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Carl Icahn buys half of Trump casinos mortgage

Carl Icahn has bought the remaining half of the $500m (£330m) mortgage on the three Trump casinos he is trying to buy out of bankruptcy.

He also won a $10m interest payment in the transaction.

The billionaire investor, who previously owned 51% of the mortgage issued by Dallas-based Beal Bank, agreed to buy the remaining 49% at a 7.5% discount, according to court documents.

The Times Business 03/04/10 page 52

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