Breaking News – Law & General Turn off the rest at Cala Homes



The insurance giant Legal & General Group (L & G) broke the rest of Cala's house-builder in a deal to buy the company's value at £ 605m. 52.1 percent of the share capital of the L & G for the £ 315 million L & G. In the past four years, L & G's joint participation with C & L with Patron Capital Partners has led to an increase in revenue of more than 200%, from £ 241 million in 2013 to £ 748 million in 2017. A statement by L & G said it believes Cala Homes has "attractive growth prospects" under the full ownership of its capital. L & G's long-term investment approach and the "attractive housing construction market in the UK" have been key factors in investing. Kerrigan Procter, chief executive officer of L & G's capital division, said: "Legal & General is happy to take over the full ownership of Cala Homes, a growing business that we know and understand well. He has a strong management team with proven experience in managing a building company in all business circles and has yielded great returns for shareholders since its acquisition in 2013, having tripled in revenue over that period. "I am excited to be working with the team , as Cala Homes continues to grow and grow under our constant ownership. " The transaction of £ 300 million now involved additional transaction costs as well as "fiscal adjustments" that reflected "the contribution of management and Patron during our joint ownership," said L & G. Cala Homes focuses on "family housing high quality "and completed 1,677 in 2017. About 1,322 p homes sales were sold at an average of £ 497,000, with more than 60% of profits coming from England and the rest from Scotland. She said 21% of her units were affordable. Alan Brown, CEO of the boarding school, said the deal marked "the launch of another exciting new chapter on Cala Homes." He said: "Over the past five years, we have become one of the fastest economists in the UK and this demonstrates our team's strength and ambition, the quality of our homes and our approach to customer service. "The CEO added:" We have also benefited from continued support from our shareholders and I would like to take this opportunity to thank Patron for his support along with Legal & General. »
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