Scotland business

Miller Homes declines to comment on reports of sale talks

Miller Homes development Image copyright Miller Group

Scottish housebuilder Miller Homes has declined to comment on reports that it is in advanced talks over its sale to a private equity group.

Sky News reported that the Edinburgh-based company was in discussions with Bridgepoint, which owns sandwich chain Pret A Manger.

Sky said the parties were closing in on a sale, valuing it at more than £600m.

It added that a deal between Bridgepoint and Miller's shareholders could emerge during the summer.

Miller Homes declined to comment when approached by BBC Scotland.

The housebuilder is controlled by a division of private equity firm Blackstone,

In 2014, Miller Homes shelved plans to float on the London Stock Exchange, blaming market volatility.

It had planned to raise about £140m by selling off at least 40% of the company.

Last year the housebuilder reported a 44% increase in pre-tax profit to £89.3m, with revenues up 13% at £565m.

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