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Kier Group To Sell Kier Living To Foster BidCo

Kier Group To Sell Kier Living To Foster BidCo
LONDON (dpa-AFX) - Kier Group Plc (KIE.L) said that it agreed to sell Kier Living Limited to Foster BidCo Limited, a newly formed company, ultimately owned by Guy Hands, the Founder, Chairman and Chief Investment Officer of Terra Firma.
The consideration payable by the Buyer for Kier Living is 110 million pounds, payable in cash on completion of the Transaction. The completion of the deal is expected before mid-June. There will be additional payments made on completion to cover Kier and its subsidiary and associated undertakings providing working capital funding to Kier Living in the period from 1 July 2020 until completion. ....

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Investegate |Kier Group PLC Announcements | Kier Group PLC: Sale of Kier Living

Kier Group plc ( Kier or the Company ) today announces that it has entered into an agreement for the cash sale of Kier Living Limited ( KierLiving ) to Foster BidCo Limited (the Buyer ), a newly formed company, ultimately owned by Guy Hands, the Founder, Chairman and Chief Investment Officer of Terra Firma (the Transaction ).

The Transaction is conditional on Kier shareholders ( Shareholders ) approval at a General Meeting expected to occur in early May.

The consideration payable by the Buyer for Kier Living is £110 million, payable in cash on completion of the Transaction ( Completion ), which is expected before mid-June. There will be additional payments made on completion to cover, among other things, Kier and its subsidiary and associated undertakings (the Group ) providing working capital ....

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