EU inquiry deadline for PAI Partners buy of Kaufman et Broad set for July 10 |
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Wed, 06 Jun 2007 15:35
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BRUSSELS (Thomson Financial) - The European Commission said the deadline for its inquiry into French private equity group PAI Partners' proposed acquisition of a majority stake in Paris-listed housebuilder Kaufman et Broad SA is set for July 10.At the end of last month, PAI offered 55 eur a share for at least 50.01 pct of Kaufman et Broad.PAI is buying the whole of the stake held buy KB Home and part of the shareholding of Guy Nafilyan, Kaufman et Broad's chairman.An offer at the same terms will be made to minority shareholders as soon as possible, PAI said.When the talks with PAI were revealed, KB Home said the offer price means that, at current exchange rates, it will receive more than 800 mln usd for its 49 pct stake.simon.zekaria@thomson.comsz/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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PAI Partners in talks to buy Kaufman et Broad majority at 55 eur/shr - UPDATE 