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14 Jun 12:37pm

Kier shares plunge on report it wants to sell housing division

The Guardian
Investors wipe over £1oom off firm’s value as shares fall to lowest level since 1996 listing Shares in the Kier Group plunged by more than a third to a record low after reports that the construction and services company is looking to sell its housebuilding division in an attempt to cut debt and simplify its structure. Investors offloaded shares and wiped more than £100m off the value of the company on Friday when it emerged it had sounded out advisers on the possibility of selling the housing business with a price tag of between £100m and £150m.
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