Deal not expected before thursday results announcement
Housebuilder Taylor Wimpey is close to a sale of its north American business for up to £650m, according to media reports.
The firm, which has been exploring offloading its US arm for the last two years, is in discussions with a number of potential suitors, including Canada’s largest housebuilder, Mattamy Homes, and US-based Meritage Homes, according to the Financial Times.
The paper added that two further bidders are in the talks, one of whom is Starwood Capital, quoting a “person familiar with the matter.”
Building revealed in January that Taylor Wimpey was looking to raise at least £500m from the sale, a figure which could virtually wipe out its £660m debt mountain.
Taylor wimpey is not, however, expected to complet any deal in time to make an announcement at its full-year financial results publication on Thursday.