Further Sale of WBD Assets

RNS Number : 3275K

Barratt Developments PLC

17 December 2008

 



Barratt Developments PLC (Barratt)

Further sale of Wilson Bowden Developments assets

Following the recent announcement of progress on the sale of Wilson Bowden Developments (WBD) assets, Barratt is pleased to announce that WBD has now also entered into a contract to sell industrial land and buildings for a total consideration of £46million.  £39.2million is due upon completion, which  is scheduled for early 2009, with the remainder expected to follow over the course of the next 18 months. 

This further disposal will increase the aggregate net sales proceeds expected to be realised from the various sales of WBD assets agreed since the IMS on 18 November to approximately £155million.

Net proceeds will be used to reduce group borrowings.  The process of divesting further WBD assets is ongoing.

ENDS

For further information, please contact:

Barratt Developments PLC
Mark Pain, Group Finance Director	020 7299 4896
Dan Bridgett, Head of External Affairs	020 7299 4873

 

END

 

 

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