French private equity firm PAI Partners is to pay EUR 601 mln for a 49% stake in Kaufman & Broad, the largest homebuilder in Paris. The interest is being sold by its struggling American parent KB Home for EUR 55 a share. PAI is also buying stock from Kaufman & Broad ceo Guy Nafilyan to bring its holding in the French company up to 50%.
French private equity firm PAI Partners is to pay EUR 601 mln for a 49% stake in Kaufman & Broad, the largest homebuilder in Paris. The interest is being sold by its struggling American parent KB Home for EUR 55 a share. PAI is also buying stock from Kaufman & Broad ceo Guy Nafilyan to bring its holding in the French company up to 50%.
'Kaufman & Broad has an outstanding track record of growth and generates superior margins,' PAI said in a statement. 'We will support the incumbent management in its plans to expand the business, including through acquisitions.'
