Tue 27 May 2008
Bids build for Barratt division
British Land and Land Securities are understood to be considering purchasing Wilson Bowden Developments from Barratt.A source told the Independent on Sunday that both firms were expected to make bids for the body shortly. Barratt bought Wilson Bowden, which included premium brand David Wilson Homes, in 2007 for £2.2 billion, but poor residential sales have forced the company to sell Wilson Bowden’s developments division. Jones Lang LaSalle, which is advising on the sale, has reported that more than 80 companies have made enquiries on the firm.
The company’s decision to sell confirms industry speculation that Barratt paid too much to acquire the firm last year in an effort to retain its position as the UK’s biggest builder – a move that was quashed by the merger of Taylor Woodrow and George Wimpey later in 2007. The figure Wilson Bowden is expected to sell for is £250 million.
Posted by Natalia Gameson
in Barratt Homes, David Wilson Homes, George Wimpey, Jones Lang LaSalle (JLL), News, Taylor Wimpey, Wilson Bowden on Tue 27 May 2008
Have your say and comment on this article