News Column

PRESS: Hugh Osmond's Sun Capital Interested In Keepmoat - Sky News

August 15, 2014

Sam Unsted

LONDON (Alliance News) - Sun Capital Partners, the investment firm headed by financier Hugh Osmond, is in talks over a GBP400 million takeover of social housing developer Keepmoat alongside private equity firm TDR Capital LLP, Sky News reported Friday.

Keepmoat is among the housebuilders in which Lloyds Banking Group PLC holds a stake as a result of its takeover of HBOS at the height of the financial crisis in 2008.

Having inherited the stake in the business through the HBOS takeover, Lloyds sold its holding to Caird Capital, before again taking a stake in the company in a debt-for-equity swap in 2012.

Osmond's move comes four years after he attempted to buy Crest Nicholson, the housebuilder which floated in February 2013 and which has been one of the beneficiaries of the UK Government's Help to Buy scheme.

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Source: Alliance News

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