Galliford Try has completed the £1.1bn sale of its housebuilding businesses to Bovis Homes.
The sale of Linden Homes and Galliford Try Partnerships includes shares, debt transfer and a £300m cash payment.
Galliford Try will now operate as a standalone construction business, concentrating on its main markets in building, highways and environment.
As expected, Bill Hocking, formerly chief executive of Galliford Try’s construction and investments business, has been appointed chief executive of Galliford Try Holdings, a newly-listed entity replacing the previous Galliford Try on the London Stock Exchange.
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