CalFed, Los Angeles, said it sold CalFed...

CalFed, Los Angeles, said it sold CalFed Insurance Syndicate, a pilot venture in property-casualty insurance begun in 1986, to London United Investments. Terms were not disclosed . . . Fremont General said it will pay $13 a share for the 2.1 million shares of the Santa Monica firm’s common stock tendered in its offer, which expired Dec. 31, to pay $13 a share or less . . . Nicaragua devalued its currency by 54%, the seventh drastic adjustment in a year, and cut subsidies on transportation to combat an economic slump and soaring inflation. The official exchange rate of the cordoba against the dollar has been set at 2,000 to 1.