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Business negotiations conclude with Taylor Wimpey sale

Taylor Wimpey has sold off its North American assets.

31 March 2011

Business negotiations conducted by UK house construction company Taylor Wimpey have concluded with the sale of its North American assets.

The company has sold its business interests in the region for $955 million (£593 million) in an effort to focus on its activities in the UK.

Property investment group TMM Holdings has purchased the North American branch of the firm, which includes Taylor Wimpey Holdings of Canada.

Pete Redfern, chief executive of the organisation, welcomed the sale, describing it as a "significant step" towards its goal of being a UK-focused house construction company.

"The sale will provide us with a strengthened balance sheet and increased financial capacity to invest in the UK and to pursue our strategic aims of focusing on margin growth," he said.

Easier.com recently reported that Taylor Wimpey has unveiled a range of new high-quality properties in West Malling, Kent.

The Leybourne chase project marks the second stage of the company's development in the area, following on from the Birling Grange initiative.
 

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