Taylor Wimpey - Proposed sale of North American Business

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Slaughter and May is advising Taylor Wimpey plc ('the Company'), as an integrated team with Davis Polk & Wardwell LLP, on the proposed sale of its North American Business for US$955 million (£595 million) payable on completion.

The Company has agreed to sell its North American Business comprising Taylor Woodrow Holdings (USA), Inc. and Taylor Wimpey Holdings of Canada, Corporation to TMM Holdings Limited Partnership, a partnership controlled by certain investment funds affiliated with TPG Capital, certain investment funds affiliated with Oaktree Capital Management, L.P., as well as JH Investments Inc.

The sale, which was announced on 31 March 2011, is conditional upon the approval of the ordinary shareholders of Taylor Wimpey.

Taylor Wimpey is a UK and North American homebuilder with smaller operations in Spain. It is the second largest homebuilder in the UK, and the ninth largest homebuilder in the US by completions and revenue respectively.

Jeff Twentyman (partner), Clare Halliday (associate), Max Wenzel (associate)

Davis Polk & Wardwell LLP: John Knight (partner), Nigel Wilson (partner), Reuven Young (associate)