Carillion has sold its two-thirds share in developer Ask Real Estate to a company controlled by the Midlands-based Richardson family.
Dukehill, which counts Lee, Carl, Martyn and Roy Richardson as its directors, has agreed a £13.8m deal for the stake in the Manchester-based firm.
The transaction also includes Carillion’s 50% stake in the Ask Carillion Developments vehicle.
Ask managing director John Hughes and finance director Jonathan Cross, who together own the remaining third of the company, will remain in situ.
Troubled construction firm Carillion has seen its share price plummet in recent months after posting below expected performance and a first-half loss of £1.15bn. It has subsequently initiated a strategic review and last week it announced a change of chief executive with Andrew Davies due to join from Wates Group where he has held the same role, replacing Richard Howson.
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