Davis Polk is advising Taylor Wimpey plc (Taylor Wimpey) in connection with the sale of its U.S. and Canadian business to TMM Holdings Limited Partnership, a partnership controlled by certain investment funds affiliated with TPG Capital, certain investment funds affiliated with Oaktree Capital Management, L.P. and JH Investments Inc., and its subsidiaries for a base consideration of $955 million. Taylor Wimpey will also receive additional proceeds for cash balances in the North American business as at December 31, 2010 and net capital invested in its North American business from January 1, 2011 to closing.

Taylor Wimpey is the U.K.’s second-largest homebuilder and the ninth-largest homebuilder in the U.S. by revenue. In North America, its main markets are Arizona, California, Florida, Texas (U.S.) and Ontario (Canada). 

The Davis Polk corporate team includes partners Nigel D. J. Wilson and John K. Knight and associates Reuven B. Young, Andrea Buti, Thomas Quirxtner and Lee Hochbaum. Partners Harry Ballan and Rachel D. Kleinberg and associates Arie Rubenstein and Aharon Illouz are providing tax advice. Members of the Davis Polk team are based in the London, New York and Menlo Park offices.