Taylor Wimpey shares have built up a 3.5% rise following reports the debt-laden housebuilder could sell its US business.
Apparently at least one private US building company has expressed interest in the division, Taylor Morrison, while private equity groups such as Starwood Land Ventures and John Paulson's Rain Tree Investment could also be in the frame for a purchase, effectively backing a management buyout. Taylor Morrison's US landbank cost around $560m but it is not clear how much the division would fetch in a sale, because of volatile house prices. Taylor Wimpey is reportedly also keen to sell its Monarch Homes division in Canada as well as the US business.
Its shares are currently up 1.1p to 33.21p.
