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Canadian News
Abode Mortgage Holdings Announces Sale Of Mortgage Origination Business - Quick Facts
11/27/2009 10:43 AM ET
(RTTNews) -
Abode Mortgage Holdings Corp. (ABD.V: News ) announced that it has entered into an agreement in principle with a private Vancouver-based investment firm for the sale of the Company's mortgage origination business. Under the agreement, the new owner will pay to the Company up to C$3.5 million by annual cash installments for the shares of its wholly-owned subsidiary, Abode Mortgage Corporation and related entities, and will recapitalize the business so that operations can be continued on a seamless basis under the new ownership.
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by RTT Staff Writer
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