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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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