LONDON (Alliance News) - FTSE 100-listed private equity company 3i Group PLC is understood to be considering plans to sell its stake in independent building materials company MKM Building Supplies amid pledges in both the Conservative and Labour manifestos to boost housebuilding, Sky News reported on Tuesday.
Sources told Sky that 3i is planning to sell its 40% stake in MKM, with a number of advisers already sounded out to handle the sale, which one source speculated could raise around GBP200 million.
MKM, based in Hull, has seen a sharp rise in sales and profit since the expansion of its business across the north of England and Scotland.
http://news.sky.com/story/1464860/election-pledges-buoy-3i-housebuilder-sale
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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3i Group (III)