Fremont General Corp. would receive $82 million...

Fremont General Corp. would receive $82 million for the sale of its property-casualty insurance operations under a definitive agreement outlining terms of a previously reported deal which, pending regulatory approval, is expected to be completed this summer. The buyers are investors headed by the subsidiary’s senior executives. The price includes $20 million in cash, a $5-million 90-day note, cumulative redeemable preferred stock with warrants to buy 9.9% of the buyers’ outstanding stock valued to $35 million and a 10-year “zero-coupon” note worth $22 million. The Santa Monica-based firm would retain assets of about $650 million, said President James A. McIntyre.