Private equity group Bridgepoint is close to acquiring British housebuilder Miller Homes for approximately £655 million, London's Financial Times reported, citing "two people familiar with the discussions."
According to the report, the purchase price represents 5.1x expected earnings before interest and taxes estimated for 2017, and represents 1.3x the value of Miller Homes' assets, which amount to roughly £500 million at present.
Private equity giant Blackstone Group LP is Miller Homes' majority owner, with minority stakeholders including Lloyds and Coller Capital.
The FT noted that the parties could announce a potential deal in the next 48 hours, but there is no guarantee that a deal will materialize.
Blackstone and Miller did not immediately respond to a request for comment, while Bridgepoint declined to give opinion on the matter.
Moelis and Rothschild are Bridgepoint and Miller's respective advisers on the deal, the report added.
In October 2014, the Miller Group scrapped its plan to float Miller Homes.