Japanese building giant takes 30% stake in Miller Homes

Japanese construction and property giant Daiwa House is buying a 30% stake in Miller Homes as the UK house builder steps up plans to deliver 7,000 homes a year.
The deal will see Daiwa acquire its minority holding from Apollo-managed funds, which will retain control of the business.
The purchase price has not been disclosed.
Miller Homes is targeting a 40% increase in annual housing output from its present rate of 5,000 homes, supported by the financial backing and expertise of its two global in