Slaughter and May has advised Legal & General on the sale of CALA Group to Ferguson Bidco

Slaughter and May has advised Legal & General Plc on the sale of the UK house builder CALA Group ("Cala") for an enterprise value of £1.35bn, to Ferguson Bidco Limited, an entity owned by funds managed by Sixth Street Partners and Patron Capital.

The consideration for the sale will result in cash proceeds of £1.16bn (after adjustment for net debt), of which c£500m will be paid at closing with the remaining consideration being paid over the next five years on a deferred non-contingent basis. As at HY24, Cala had a Net Asset Value of £1.15bn and generated operating profits of £42m.