DALLAS, Texas -- Sept. 20, 1995 -- Centex
Corporation
announced today that the reorganization plan under which its
subsidiary, Centex International, Inc., will acquire interests in
Vista Properties, Inc. for $115
million was approved and confirmed
yesterday by the U.S. Bankruptcy Court in Delaware. Centex
indicated that the acquisition should be completed by Sept. 30,
1995.
Centex Corporation, through its subsidiaries, is the nation's
largest builder of single-family detached homes, a leading retail
mortgage originator and general building contractor, and owns a 49
percent equity interest in a construction products company.
CONTACT: Centex Corp.,
David W. Quinn, Sheila E. Gallagher, 214/559-6500