Century 21 Firm to Be Sold
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NEW YORK — Century 21 Real Estate Corp., the nation’s largest real estate sales organization, will be sold by Transworld Corp. to Metropolitan Life Insurance Co., the two companies said in a joint statement today.
The announcement did not disclose terms of the transaction. Century 21, based in Irvine, Calif., last year sold 11% of all homes sold in the United States. Transworld Chairman L. Edwin Smart said the sale of Century 21 and the 1984 spinoff of Trans World Airlines as a separate company complete Transworld’s “major restructuring.”
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