Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Investment VIPs

Conseco Sells Finance Unit

Your article was successfully shared with the contacts you provided.

NU Online News Service, March 6, 2003, 5:17 p.m. EST – Conseco Inc., Carmel, Ind., has sold its finance subsidiary, Conseco Finance Corp., for $1 billion to CFN Investment Holdings L.L.C., New York, and a unit of General Electric Company, Fairfield, Conn.

Conseco plans to use the proceeds from the sale to satisfy the creditors of Conseco Finance.

Conseco acquired Conseco Finance, formerly known as Green Tree Financial Corp., in 1998 for $6 billion.

Conseco recently filed for Chapter 11 bankruptcy court protection because of problems at the finance unit. Conseco says it plans to focus exclusively on the insurance business once it completes the sale of the unit and emerges from Chapter 11 proceedings.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.