UK CMA Consults With Barratt Redrow, Vistry, Other Homebuilders In Housebuilding Investigation

(RTTNews) - The UK Competition and Markets Authority or CMA announced that it is inviting views on voluntary commitments offered by seven UK housebuilders, including Barratt Redrow plc (BTDPY) and Vistry Group plc (VTY.L), as part of the regulator's ongoing investigation in the housebuilding sector.

Both Barratt Redrow and Vistry issued statements welcoming the CMA's consultation and said they will continue to work constructively with the CMA throughout the process.

The companies said they have engaged proactively and constructively with the CMA throughout its investigation, and offered binding commitments alongside the other parties in response to the potential concerns investigated by the CMA.

The UK housebuilders' proposed commitments include making a collective payment of 100 million pounds to the UK government to be disbursed to the affordable homes programmes in England, Scotland, Wales and Northern Ireland. Barratt Redrow's share of the payment is expected to be 29 million pounds, while Vistry will contribute 12.8 million pounds.

Meanwhile, the firms added that the offer of commitments does not constitute an admission of any wrongdoing, and that they do not agree with any concerns expressed by the CMA in the investigation.