Private equity company CVC is in negotiation to bid for McCarthy & Stone, the largest retirement home builder in the UK, sources familiar with the proposed deal said.
CVC is expected to collaborate with McCarthy & Stone's former chairman Alan Bowkett in its attempt to acquire the retirement home builder, which is owned by a number of hedge funds and banks.
One source close to the deal said that discussions between CVC and Bowkett were still in the early stages, adding that the proposed deal is not associated with Acromas, which is controlled by a private equity consortium led by CVC.
McCarthy & Stone was taken private by a HBOS-led consortium for 1.1 billion pounds in 2006.
The deal, according to British newspaper Sunday Times, could draw around 500 million pounds.
McCarthy & Stone declined to comment on the speculated deal.
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