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Upscale auction block

(AP) -- One of the largest residential properties in the upscale Los Angeles west side is on the auction block.

Actor Robert Taylor, who played opposite Elizabeth Taylor, Deborah Kerr and Richard Widmark, owned the 112-acre Mandeville Canyon ranch in the Brentwood area when he died in 1969 and it still bears his name.

The property was recently listed for sale at $19 million.

It will now go the highest bidder at a Nov. 30 auction by Concierge Auctions of New York.

The property's 11,700-square-foot house has 34 rooms, including a bar and casino room.

The compound has a pool, tennis court and the stables-turned-living quarters and offices.

Hilton & Hyland real estate agent Marcie Hartley told the Los Angeles Times that the property's eight parcels are viewed by some as ripe for development.

Mexican paint deal

(AP) -- Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion.

Consorcio Comex, S.A. de C.V., sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico.

It has company-operated stores and also works with independent paint dealers.

The company is based in Mexico City and had a total of $1.4 billion in sales last year. It employs 7,200 people and runs manufacturing sites in Mexico, the United States and Canada.

“Sherwin-Williams and Comex Group are an ideal fit in every respect -- geographically, strategically and culturally,” said Christopher Connor, Chairman and CEO at Sherwin-Williams (NYSE: SHW). “This transaction will significantly increase our presence in markets where our store count is low.”

Sherwin-Williams, based in Cleveland, said the deal price includes assumed debt.

The Sherwin-Williams Co.'s brands include Dutch Boy, Minwax, Krylon and its namesake paints.

Radian will pay

(Bloomberg) -- Radian Group Inc., the mortgage insurer whose stock almost doubled this year, will pay Financial Guaranty Insurance Co. $52.4 million to end a reinsurance deal as Chief Executive Officer S.A. Ibrahim scales back risk.

The deal to commute the $827 million portfolio includes $196 million of Radian's $225 million of coverage on Jefferson County, Ala. sewer warrants, Philadelphia-based Radian said Monday.

Ibrahim is guarding capital as he works to restore profitability at the company's main business, which is backing mortgages.

Investment gains and sales of new coverage have helped the insurer bolster its cushion against losses.

The deal requires approval by New York State Supreme Court, Radian (NYSE: RDN) said.

Jefferson filed for biggest-ever municipal bankruptcy last year, after the county, state officials, a court-appointed receiver and bondholders failed to implement a plan that would have cut about $1 billion from $3 billion of debt tied to the financing of a sewer renovation.

Radian advanced has jumped 99 percent since Dec. 31 after plunging 71 percent in 2011.

Disaster aid

(AP) -- An administration official said Gov. Andrew Cuomo plans to request at least $30 billion in federal disaster aid to rebuild after Superstorm Sandy.

The official wasn't authorized to speak publicly because the details haven't been finalized.

The official confirms that the administration will use the money to cover costs to repair bridges, tunnels subways and commuter rail lines.

It will also help rebuild homes and apartments, reimburse local governments for emergency services and make loans and grants to businesses.

The plan is based on an estimated $50 billion in damages and would help cover the cost of improvements like a power grid meant to improve utilities' ability to find and fix outages and upgrade New York City's gasoline supply capacity.

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