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Lehman Brothers has purchased a $1.58 billion manufactured housing portfolio from Tyco International. The global manufacturing and services company acquired the assets earlier this year, when it bought specialty lender the CIT Group. CIT will continue to generate new manufactured loans and to service existing customer accounts. In a statement, Tyco officials said the divestiture is part of a strategy to pare CIT, which it bought early last month, of its non-core businesses.
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