Oakwood completes sale of assets to Clayton

New York, April 20 - Oakwood Homes Corp. - now known as Reorganized Sale OKWD - said it completed the sale of substantially all of its operations and non-cash assets to Clayton Homes Inc., a subsidiary of Berkshire Hathaway Inc., for $372.5 million in cash.

The price is subject to certain adjustments.

The Greensboro, N.C., company said all other conditions to the sale have been satisfied since the transaction was approved by its creditors on March 22.

Proceeds and any assets not sold to Clayton were transferred to a liquidation trust for distribution to stakeholders.

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