Reuters: Global Markets: Homex shares soar on prison stake sale

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Homex shares soar on prison stake sale Apr 19th 2013, 17:37 MEXICO CITY | Fri Apr 19, 2013 1:37pm EDT MEXICO CITY (Reuters) - Shares in Mexican homebuilder Homex (HOMEX.MX) climbed more than 14 percent on Friday after it said it raised 4 billion pesos ($327.23 million) by selling a stake in some of its prisons to a bank and a construction company owned by Carlos Slim. The homebuilder, which has been struggling under a heavy debt load and slowing home sales, said it will use half the proceeds to pay down debt and the remaining half as working capital for its Mexican division.

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