Scotland-focused house builder Springfield Properties said it had completed the acquisition of rival Walker Group for up to £31m.
The deal would involve Springfield making an initial payment of £21.0m and a combined £6.0m contingent on the receipt of planning consents for several sites.
Another £4.0m would payable in equal amounts on the first and second anniversary of the completion of the acquisition.
'The acquisition has enabled us to diversify our land bank with sites at various stages of planning and development in East Central Scotland, where we have been looking to strengthen our foothold,' chairman Sandy Adam said.
At 8:01am: (LON:SPR) Springfield Properties Plc share price was +2.5p at 120p