Henry Boot (BHY.L) said it is to take full ownership of Stonebridge Homes Group Ltd having exchanged contracts to acquire the 50% share it does not own from its JV partner. Stonebridge Projects Ltd is the JV partner selling its entire 50% shareholding in Stonebridge Homes. Stonebridge Projects is a related party of Henry Boot.
The transaction is structured to complete in three tranches over the next five years with the total purchase price linked to the performance of Stonebridge over the period.
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