Capmark Mortgage Business Sale For $515M Approved

Law360, New York (November 25, 2009, 2:12 PM EST) -- Capmark Financial Group Inc. has won a bankruptcy court's approval to complete the sale of its North American servicing and mortgage banking businesses to a joint entity of Warren Buffett's Berkshire Hathaway Inc. and Leucadia National Corp. for $515 million.

Judge Christopher S. Sontchi for the U.S. Bankruptcy Court for the District of Delaware on Tuesday approved the sale to Berkadia III LLC, a newly formed entity owned by Berkshire Hathaway and Leucadia National, pursuant to an earlier asset put agreement.

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