PAI Partners agrees deal to buy Kaufman et Broad majority at 55 eur/shr |
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Wed, 23 May 2007 07:54
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PARIS (Thomson Financial) - French private equity group PAI Partners said it has reached agreement to acquire at least 50.01 pct in Paris-listed housebuilder Kaufman et Broad SA at a price of 55 eur per share.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 exclusive talks with PAI were revealed last week, 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.Kaufman et Broad shares closed last night at 58.28 eur, valuing the company at 1.3 bln eur.Andrew.Newby@Thomson.coman/an/anCOPYRIGHTCopyright 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 