LONDON, March 18 (Reuters) – Insurer Legal & General said on Monday it has bought a 46.5 percent stake in Cala Group from Lloyds Banking Group in a deal that values the British housebuilder at 210 million pounds ($318 million).
L&G made the acquisition alongside private equity group Patron Capital Partners, which will also buy a 46.5 percent stake, while Cala’s management will take a 7 percent share. The deal will be financed by 140 million pounds of equity and 70 million pounds of debt.
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Legal & General to buy stake in UK housebuilder Cala
