Roundup: NVR and Allied Capital
News from staff and wire reports
*NVR of Reston said first-quarter profit fell 49 percent, to $43.5 million from $84.8 million in the comparable period a year earlier. Revenue fell 19 percent, to $887.9 million.
*Allied Capital found a buyer for 2.8 million of its shares at $17.87 per share, a 7.2 percent discount.
The District based lender and investor, in a sale managed by Deutsche Bank, expects to raise about $49 million in the sale. The company plans to use the money to pay off debt under a credit line and make other investments. The buyer is an institutional investor whose identity was not disclosed.
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