Scottish housebuilder could sell parts of division to construction giant
Kier Group is in talks to buy parts of the construction division of Scottish housebuilder Stewart Milne.
Both sides have confirmed the potential for a sale, but stressed negotiations were at an early stage.
A statement from Kier said “early discussions” had taken place with the Aberdeen-based group, “concerning the possible acquisition of some of the activities of their construction division”.
It said: “[Stewart Milne’s] geographical spread, well-established reputation and customer base could provide a good fit with Kier’s own construction business. However, at this stage there can be no certainty that a transaction will take place.”
Stewart Milne Group said it was “carefully considering” Kier’s interest in Stewart Milne Construction and would undertake a period of due dilligence “targeted to be completed by the end of March”.
The company said that if the sale were to go ahead it would “allow the Stewart Milne Group to focus on expanding and developing its successful house building and timber frame operations across the UK, in line with our longer term growth plans”.