January 20, 2010 / 11:23 PM / 8 years ago

Taylor Wimpey names advisor on N. American unit IPO-paper

LONDON, Jan 20 (Reuters) - British housebuilder Taylor Wimpey (TW.L) has appointed JP Morgan Cazenove to advise on a potential $1 billion flotation of its north American business, the Daily Telegraph reported in its Thursday edition.

The paper said the investment bank had been appointed to advise on a de-merger of Taylor Wimpey’s U.S. and Canadian housebuilding division which could lead either to a sale or an initial public offering (IPO).

Taylor Wimpey could not immediately be reached for comment.

On Monday the company’s chief executive Pete Redfern declined to comment on a rumoured disposal of its U.S. housing operations. [ID:nLDE60E1IH]

In a trading statement, also on Monday, the company said it was encouraged by a prolonged period of stability in its north American markets and added it was “optimistic with regard to future prospects.” (Reporting by Tim Castle; editing by Carol Bishopric)

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