Arizona Firm Moves to Buy Land Resources
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Miami — Security Savings and Loan Assn. of Scotsdale Ariz., has given the General Development Corp. the Exclusive right to negotiate the purchase of Land Resources Corp. for about $65 million, General Development announced.
The deal, which is expected to close in mid-march, is subject to the completion of due diligence, the signing of a definitive agreement by Jan.17 and other contingencies.
The approval of General Development’s lenders and the Federal home Loan Bank Board is also required before the deal can go through, executives said.
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