Lennar: Sells Stake in Venture, Slashes Outlook

January 1, 2007

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U.S. home builder Lennar Corp. and LNR Property Corp., a holding of Cerberus Capital Management, said on Monday they are selling a 62% stake in their LandSource joint venture to MW Housing Partners for cash distributions totaling more than $1.3 billion.

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read the full Reuters article.

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Lennar: Sells Stake in Venture, Slashes Outlook

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