KB Home Mulls Options After Receiving Offer For its French Unit
Homebuilder KB Homes said Friday it was considering its strategic alternatives after receiving an offer to purchase KB's stake in its French subsidiary Kaufman & Broad SA.
KB Home, which has seen its shares battered by the current slowdown in the U.S. housing industry, said the offer from an undisclosed suitor for the 10.9 million shares in Kaufman & Broad is worth $783.2 million, or 53.13 euros ($71.85) a share.
KB is weighing whether it should retain the stake, take the unit public, or have a private offering.
Kaufman & Broad has been benefiting from a boom in the French housing market.
KB shares were recently trading up 4%, or $1.74, at $44.99.