Inclusive Capital's Ubben named to Vistry board as homebuilder looks to leverage recent acquisition
Publishing timestamp: 2023-03-25 09:10:33
Summary
Inclusive Capital Partners, an investment firm focused on ESG practices, has appointed its founder Jeff Ubben as a non-executive director to the board of Vistry Group, a UK-based housebuilder. Ubben's appointment follows the resignations of two incumbent directors. Inclusive Capital Partners had previously engaged with Vistry's acquisition target, Countryside Partnerships, and had made two bids to acquire the company. Vistry operates through a partnership model, whereby land is provided to them by governmental land authorities at no cost, and they commit to building a certain amount of affordable housing. The company trades cheaply at 7 to 8 times earnings and has high growth prospects, complimented by their community benefits.
Sentiment: NEUTRAL
Tickers: VTY-GB,
Keywords: investment strategy, vistry group plc, business news, hedge funds,