LONDON (Reuters) – Private equity firm TDR Capital is in talks to inject cash into Taylor Wimpey (TW.L: Quote, Profile, Research, Stock Buzz) in exchange for a stake in Britain’s largest house builder by number of homes, the Mail on Sunday reported.
Taylor Wimpey has suffered repeated delays in renegotiating a 1.7 billion-pound ($2.7 billion) debt burden, raising concerns of a default on its eurobonds.
Taylor Wimpey shares are worth just 7 percent of their value at the start of the year as the soaring cost of debt compounds the misery of falling house prices for British housebuilders.
The company declined to comment on Sunday’s newspaper report and TDR was not immediately reachable for comment.
(Reporting by Georgina Prodhan, editing by Martin Golan)