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UPDATE 1-Buyers Protection Group to buy 2 LandAmerica units

Wed May 27, 2009 7:31am EDT

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* Buyers Protection to buy 2 LandAmerica units

* Purchase price not disclosed

May 27 (Reuters) - Buyers Protection Group Inc said it agreed to buy two units of bankrupt LandAmerica Financial Group Inc LFGRQ.PK for an undisclosed price.

The acquisition of Home Warranty and Property Inspections Cos is subject to regulatory approval and is expected to close later this summer, Atlanta-based Buyers Protection said in a statement.

Earlier this month, Fidelity National Financial Inc (FNF.N) agreed to buy LoanCare Servicing Center Inc from LandAmerica, its third acquisition from the company.

Once the No. 3 U.S. title insurer, LandAmerica filed for Chapter 11 bankruptcy protection in November 2008 and agreed to sell its largest underwriting businesses, after bigger rival Fidelity National Financial withdrew a $126 million takeover offer. (Reporting by Supantha Mukherjee in Bangalore; Editing by Anil D'Silva)



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