Taylor Wimpey has sold the UK business of Taylor Woodrow Construction to Vinci for £74m, to focus on its core housebuilding activities.
Vinci, a UK subsidiary of French construction company Vinci SA, said the deal would strengthen its UK presence.
The business includes construction management, programme management and project management across rail and infrastructure, facilities management and building.
Pete Redfern, chief executive of Taylor Wimpey, said: ‘The construction business has developed an excellent reputation in its chosen markets and has been a valued part of Taylor Wimpey.
‘However, given Taylor Wimpey’s focus on its core housebuilding activities, we have been talking to Vinci since February this year and I’m pleased to announce a successful conclusion today. The opportunities for the construction business are greater within a group focused on construction and facilities management, which will benefit its clients, staff and other stakeholders.’
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