Sixth Street Said to Be Frontrunner to Buy L&G’s Cala, Sky Says

US-based investor Sixth Street is considered the frontrunner to buy housebuilder Cala Group from Legal & General, Sky News reported.

Sixth Street is in a race with FTSE-100 housebuilder Persimmon and an announcement from Cala owner L&G is likely during the course of this week, Sky said.

Insurance and asset management firm L&G could get from £1.2 billion ($1.6 billion) to £1.3 billion, a higher price than previous estimates, for its housebuilding subsidiary, a person familiar with the matter told Sky.

L&G and its advisers, Rothschild, were still in talks with Persimmon and were still hopeful of obtaining a ...