Home Capital to get $2 bln loan from Berkshire Hathaway: Reuters

Home Capital Group Inc said billionaire Warren Buffett's Berkshire Hathaway Inc will provide a new $2 billion (US$1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender's strategic review process, Reuters reported. Berkshire will also indirectly buy $400 million of Home Capital's common shares in a private placement through its unit Columbia Insurance Co. It will hold an about 38.39 percent equity stake in the company. Home Capital, Canada's biggest alternative mortgage lender, also said it will continue to explore further asset sales and financing deals over the next year, but has concluded its strategic review process that began in April.

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