Apollo to Sell 30% Miller Homes Stake to Daiwa House

M&A · Partnership
โดย GlobeNewswire·GBJP·Read original
Summary · why it matters

Apollo-managed funds have agreed to sell an approximately 30% minority stake in UK housebuilder Miller Homes to Daiwa House, with Apollo Funds remaining the controlling shareholder. Miller Homes, founded in 1934, is the UK's largest private housebuilder, completing approximately 5,000 homes a year across England, Scotland and Wales, and targets delivering 7,000 new homes per year. Daiwa House, a Japanese construction and real estate group operating in 28 countries with roughly 55,000 employees, said the investment will support Miller Homes' continued profitable growth and its multi-tenure model. The transaction is subject to closing conditions including regulatory approvals and is expected to close later this year. Rothschild & Co advised Apollo Funds and Miller Homes, while A&O Shearman and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to Apollo Funds.

Impact on stocks 2

Energy Transition & Power Demand▲ · 1 stocks
Daiwa House Industry Co., Ltd.
1925
▲ PositiveCapitalrelevance

Daiwa House agreed to acquire an approximately 30% minority stake in UK housebuilder Miller Homes to support its growth.

Aging Population▲ · 1 stocks
Apollo Global Management LLC Class A
APO
▲ PositiveCapitalrelevance

Apollo-managed funds agreed to sell a ~30% minority stake in Miller Homes to Daiwa House while remaining controlling shareholder, a portfolio transaction.

Off-coverage companies 3

Miller HomesPrivate▲ Positive
Capitalrelevance

Miller Homes is the subject of the stake sale, with Daiwa House's investment supporting its continued profitable growth and multi-tenure model.

A&O ShearmanPrivate± Mixed
relevance

Rothschild & CoPrivate± Mixed
relevance

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