Conseco Finance Corp., St. Paul, Minn., has announced the completion of an $850 million asset sale to Green Tree Investment Holdings LLC.The sale followed the bankruptcy court's conditional approval of CFC's third amended plan of reorganization on June 19. Conseco said the assets include the servicing businesses for manufactured housing, home equity, and home improvement loans; the agency business; securities; and loan receivables. The assets will be operated under the name Green Tree, which was the name of CFC before it was acquired by Conseco Inc., Carmel, Ind. Green Tree Investment Holdings is a joint venture among affiliates of Fortress Investment Group LLC, Cerberus Capital Management, and JC Flowers & Co.
Processing Content
