Taylor Wimpey To Sell U.S. Unit For $955M

Housebuilder Taylor Wimpey is selling its North American business for $955 million, Financial Times reports. The buyer of the group’s U.S. and Canadian house building operations is TMM Holdings, the property investor backed by TPGCapital and Oaktree.

TMM’s all-cash offer is awaiting shareholder approval. Taylor Wimpey will use the sale proceeds to pay down some of its $1.05 billion of debt. JP Morgan Chase served as adviser on the sale process.

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