LONDON (dpa-AFX) - Legal & General Group Plc (LGEN.L) has agreed the sale of the UK house builder CALA Group for an enterprise value of 1.35 billion pounds, to Ferguson Bidco, an entity owned by funds managed by Sixth Street Partners and Patron Capital. The consideration for the sale will result in cash proceeds of 1.16 billion pounds. Legal & General said the disposal proceeds will primarily be used, as they become available, to reinvest in the Group.
Cala Group is a UK housebuilder focused on building homes in prime locations throughout the South of England, the Cotswolds and Scotland.
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