CMA consults on proposed voluntary commitments
CMA consults on voluntary commitments from seven housebuilders including £12.8m contribution from Vistry to affordable housing programmes.
- Vistry's contribution to affordable housing fund £12.8 million
- Total contribution by seven housebuilders £100 million
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Vistry Group plc ("Vistry") notes the UK Competition and Markets Authority's ("CMA") announcement today[1] that it is inviting views on voluntary commitments offered by Vistry and six other UK housebuilders[2] as part of the CMA's ongoing investigation in the housebuilding sector.
Vistry has engaged proactively with the CMA throughout its investigation, including by voluntarily offering binding commitments ("Voluntary Commitments") in response to the potential concerns investigated by the CMA, and with a view to resolving the investigation expeditiously.
The Voluntary Commitments include a commitment by Vistry and the six other UK housebuilders to contribute £100 million in aggregate to His Majesty's Government which shall be disbursed to government programmes which fund and support the construction of affordable homes in England, Scotland, Wales and Northern Ireland. Vistry will contribute £12.8 million as part of this commitment.
Vistry welcomes the CMA's consultation on the Voluntary Commitments and will continue to work constructively with the CMA throughout the process.
[2] Barratt Redrow plc, Bellway plc, The Berkeley Group plc, Bloor Homes Limited, Persimmon plc and Taylor Wimpey plc.
[3] Notice of Intention to Accept Commitments: Investigation into suspected anti-competitive conduct by housebuilders - GOV.UK
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.