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Guy Hands buys Kier's housebuilding arm Kier Living in £110m deal

Government contractor Kier has sold off its housebuilding arm to private equity baron Guy Hands in a cash deal worth £110million.
The construction company announced the deal on Friday, saying it had agreed to sell its Keir Living business to a newly formed company called Foster BidCo owned by the billionaire investor.
Hands, the founder and boss of private equity firm Terra Firma who s been living in Guernsey for tax reasons since 2009, said he was delighted to buy the business, which has significant growth potential .
Deal: Private equity baron Guy Hands said Kier Living had significant growth potential
Private equity firms are infamous for making drastic cuts at the companies they buy and loading them with debt before selling them on for more money. ....

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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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Colne: Disabled man says he has lost privacy and been abused due to building works

A DISABLED man says he was verbally abused by workmen when he complained that building works near his home have invaded his privacy.
Stephen Allen, 67 of Burrell Avenue in Colne, lives in a property owned by the Together Housing group and says that building at a nearby site on the former community centre on Glenroy Avenue have impacted his privacy and has affected his garden.
He says that his fence was removed by builders and that he lost a quarter of his garden space, where a new metal fence has been put in up preparation for a car park being built, and been left with no privacy in his bathroom and kitchen, with works taking place just 12-13 inches from his garden window. ....

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Place North West | Green light for Pendleton third phase

Place North West | Green light for Pendleton third phase
placenorthwest.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from placenorthwest.co.uk Daily Mail and Mail on Sunday newspapers.

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'Eyesore' complaint over rubbish dumped behind Blackburn house

A PILE of rubbish and household items has been dumped behind a Blackburn house.
The rubbish and building materials behind the home in St Thomas’s Street, Audley, which is being renovated, has been described as an ‘eyesore’ and is said to be attracting rats. The mess is also affecting those living on Temple Drive which backs on the property.
Blackburn with Darwen Council have confirmed they are investigating the issue.
One resident told us: “It has been like this for more than three months now. It is a shocking amount of rubbish and the house-owner needs to take responsibility for it. It is their rubbish and this is attracting rats. ....

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