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

Housebuilder Taylor Wimpey is selling its North American business for $955 million.

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.

Click here for the story from Financial Times.

Click here for additional coverage from The Wall Street Journal.

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