Linklaters has advised JPX-listed Daiwa House Industry Co., Ltd. (“Daiwa House”) on the acquisition of an approx. 30% stake in Miller Homes from Apollo-managed funds (“Apollo Funds”). Apollo Funds will remain the controlling shareholder of Miller Homes.
Daiwa House is one of Japan’s leading construction and real estate groups and operates in 28 countries and regions worldwide. Established in 1934, Miller Homes is the largest private housebuilder in the UK, completing approximately 5,000 homes a year across England, Scotland and Wales.
The strategic investment by Daiwa House will support the continued profitable growth of Miller Homes, providing additional resources and global construction and real estate expertise as the company expands its multi-tenure model and progresses towards its target of delivering 7,000 new homes per year.
The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals, and is expected to close later this year.
An international cross-practice Linklaters team is advising Daiwa House. The team is led by Corporate/M&A Partners Richard Spedding and Yoshiyuki Asaoka, supported by Managing Associates Monique Fraser and Takahisa Watanabe.
The core team includes Andy Bruce (Partner, Real Estate), Dara Ayoade (Managing Associate, Real Estate), Thomas Parish (Managing Associate, Tax), Sarah Collister (Managing Associate, Incentives), Matilde Faglia (Managing Associate, Antitrust & Foreign Investment), Alice Cao (Associate, Corporate/M&A) and Yuri Otori (Associate, Corporate/M&A).
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