Galliford Try Plc announces sale of housing business

  • Nov 07, 2019 GMT
  • Team Kalkine
  • Galliford Try Plc (GFRD) has entered into an agreement with Bovis Homes Group Plc with respect to the integration of the company’s Linden Homes and Partnerships & Regeneration divisions with Bovis Homes.
  • Galliford Try Plc shareholders will receive new Bovis Homes shares valued at £675 million.
  • The company will receive a cash consideration of £300 million.
  • Bovis Homes will assume Galliford Try’s obligations under a private placement of £100 million, 10-year debt.
  • On 7th November 2019, at the time of writing, GMT 11:44 AM, GFRD shares were trading at GBX 716, down by 26 points or 3.50 per cent against the previous day’s closing price.

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