Century 21 Firm to Be Sold

Century 21 Real Estate Corp., the nation’s largest real estate sales organization, will be sold by Transworld Corp. to Metropolitan Life Insurance Co., the two companies said in a joint statement today.

The announcement did not disclose terms of the transaction. Century 21, based in Irvine, Calif., last year sold 11% of all homes sold in the United States. Transworld Chairman L. Edwin Smart said the sale of Century 21 and the 1984 spinoff of Trans World Airlines as a separate company complete Transworld’s “major restructuring.”