Deal with social housing contractor is expected to be completed next week

Rok is set to make a significant acquisition next week ahead of changes to Capital Gains Tax laws.

Garvis Snook
Garvis Snook: refused to comment on deal

It is understood the £950m-turnover business will complete a deal for a social housing contractor with a turnover described by one source as “below the £107m made by Tulloch”, which it bought for £31.3m in September 2006.

Rok chief executive Garvis Snook refused to comment on the speculation.

Two weeks ago Snook said the acquisition market had got hotter ahead of the changes to CGT that are to come in on 6 April.

The abolition of taper relief on CGT means that partnerships and individuals will pay a flat rate of 18% on a chargeable gain if they sell up after that date, compared with a previous maximum rate of 10%.