Media reports suggest private investment firm is ready to rescue housebuilder
Texas Pacific Group is poised to mount a rescue bid for housebuilder Taylor Wimpey, according to media reports.
It is thought to be one of dozens of firms to have kept a watching brief on the sector in recent months, including Middle Eastern sovereign wealth funds.
The buyout firm, which is working to secure a 拢179m deal to bail out mortgage lender Bradford & Bingley, would reportedly "love" to invest in the company, which has 拢1.7bn of debts.
The news emerged after Taylor Wimpey announced it had failed to secure 拢500m of funding from investors.
The private equity giant is also eyeing other potential investment opportunities in the sector, including Barratt.
A source told the Daily Mail: "(TPG) would love to invest in Taylor Wimpey, and is very interested in the housebuilding sector. The whole sector is of interest to TPG."
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