Crest Nicholson confident about is standalone prospects (Il Sole 24 Ore Radiocor) - London, 13 Aug - The UK home builder Bellway said that it does not intend to make a firm offer for its peer Crest Nicholson.

Bellway added that it "remains confident that its robust balance sheet and operational strength, combined with the depth and quality of its land bank, will enable Bellway to deliver volume growth in the years ahead and support ongoing value creation for shareholders." Crest Nicholson added that its board had engaged with Bellway in relation "to a possible all-share offer for Crest Nicholson in response to a series of unsolicited proposals from Bellway." Crest Nicholson added that it "remains confident in its standalone prospects, in particular given conclusion of the review of provisions for completed development sites supported by external consultants, its highly attractive land portfolio and the new leadership of Martyn Clark.".

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(RADIOCOR) 13-08-24 18:52:22 (0471) 5 NNNN