Wednesday, July 24, 2024
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Patron Capital Partners has emerged as one of the bidders for CALA, the housebuilder owned by Legal & General (LGEN.L), in a transaction anticipated to generate approximately one billion pounds ($1.28 billion). This development follows Legal & General’s recent announcement of restructuring its operations, identifying CALA as a candidate for “potential divestment.”

Previously, Legal & General and Patron Capital were co-owners of CALA. In 2018, Legal & General acquired the remaining 52% stake in CALA from Patron Capital. Now, Patron Capital is reportedly interested in re-acquiring CALA, according to a source familiar with the matter.

Legal & General has enlisted the services of investment bank Rothschild to manage the potential sale process of CALA, as initially reported by Reuters earlier this year. Sky News was first to report on Wednesday about Patron Capital’s interest in acquiring CALA.

This bid from Patron Capital underscores the ongoing strategic moves within the real estate and housebuilding sectors, reflecting the dynamic landscape of corporate ownership and investment strategies in the UK market.

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