LONDON, March 3 (Reuters) - Private equity firm CVC is in talks on a bid for Britain's largest retirement homebuilder McCarthy & Stone, sources close to the proposed dealsaid on Sunday.
The firm is expected to team up with Alan Bowkett, whoresigned as McCarthy & Stone chairman last week, to try to buythe company, which is owned by a number of banks and hedgefunds.
Britain's Sunday Times newspaper said the deal would beworth around 500 million pounds ($750.5 million).
A source close to the proposed deal said the talks werestill in the early stages, adding the deal would be on astandalone basis and not linked to Acromas, owner of over-50sinsurance and holiday provider Saga, which is controlled by aCVC-led private equity consortium.
McCarthy & Stone said it had appointed as chairman JeremyJensen, previously a non-executive director, who in 2011, withother landlords, led the break-up of care home provider SouthernCross. The firm declined to comment on the bid speculation.
McCarthy & Stone was taken private in 2006 in a 1.1 billionpound deal by a consortium led by HBOS, now part of LloydsBanking Group Plc.
Chief Executive Mark Elliott drafted in investment bankersfrom Moelis to advise on the firm's 500 million pound debt pileand explore options for the business when he was appointed inNovember.