BFC Financial Corporation

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Levitt, BFC Financial to Merge

Jan 31, 2007By

BFC Financial Corporation, a Florida-based holding company, announced today that it will acquire Southeastern-U.S. home builder Levitt Corporation in a deal valued at $286 million. Levitt develops planned suburban as well as master-planned communities. BFC currently owns approximately 17 percent of Levitt, consisting of all of Levitt’s Class B Common Stock and approximately 11 percent of Levitt’s Class A Common Stock.

3d rendering of a row of luxury townhouses along a street

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