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Berkshire Hathaway sells marketing unit

Reuters

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) conglomerate has sold a marketing and direct mail unit to a Wisconsin businessman, according to a statement on Tuesday.

Robert M. Kraft bought Omaha, Nebraska-based World Marketing Inc from Berkshire Hathaway and will move the company's corporate headquarters to Wisconsin, according to a statement from World Marketing.

Terms of the purchase were not disclosed.

Milwaukee-based Optimus Financial Services helped secure financing for the deal from Associated Bank, also in Milwaukee.

Billionaire Warren Buffett, the world's third-richest person as ranked by Forbes, has built Berkshire Hathaway into a sprawling conglomerate comprising everything from ice cream to insurance. He rarely sells companies.

(Reporting by Luciana Lopez and Jonathan Stempel; Editing by Steve Orlofsky)