British Buyer

Centex Corp. disclosed in September that it will sell Fairclough Homes, its United Kingdom home building operation, to The Miller Group, the UK’s largest privately owned residential building and development company. After foreign and domestic taxes, net proceeds of the sale are expected to be about $290 million. The deal comes as Centex pursues its strategic plan of focusing on domestic home building. The company is also considering a possible sale of Centex Home Equity Co., its sub-prime home equity lending group.