Kaiser says to sell office complex for $65 Million

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Friday November 22, 12:08 pm ET 
HOUSTON, Nov 22 (Reuters) - Bankrupt aluminum producer Kaiser Aluminum Corp. on Friday said it plans to sell its stake in an Oakland, California, office complex to Summit Commercial Properties Inc. for $65.6 million.
The company, based in Houston, said it filed a motion with the U.S. Bankruptcy Court for the District of Delaware for the proposed sale of the Kaiser Center office complex.

Jack Hockema, chief executive of Kaiser, said in a statement the sale will "allow us to focus our time and attention on our core operations."

Kaiser, which filed for Chapter 11 bankruptcy in February, said it expects the deal to close in the second quarter of 2003.