MJ Gleeson Confirms Exploring Strategic Land Business Options

LONDON (Alliance News) - MJ Gleeson PLC on Monday said it has appointed Lazard to explore a range ...

Alliance News 1 April, 2019 | 9:20AM
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LONDON (Alliance News) - MJ Gleeson PLC on Monday said it has appointed Lazard to explore a range of options for its Strategic Land business, including a potential sale.

The building firm said a "number of third parties" expressed interest in acquiring the division, however, a sale was not yet certain.

The Strategic Land division is a land promotion business enhancing the value of land by securing residential planning consents. The business's portfolio comprises 59 sites which could deliver 22,232 plots and 67 acres of commercial land.

MJ Gleeson was forced to issue the comments following a Sunday Times report of a possible sale of the business.

The newspaper, citing City sources, reported that the builder had put its land trading business up for sale.

https://www.thetimes.co.uk/article/builder-mj-gleeson-led-by-jolyon-harrison-to-sell-land-trading-operation-nhsm8g9kg

MJ Gleeson shares were trading 2.6% higher at 824.81 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
MJ Gleeson PLC 716.70 GBX -1.28 -

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