PAI to buy K&B

French private equity group PAI partners has agreed to buy the 49% share in French house builder Kaufman & Broad, currently owned by US residential builder KB Home. PAI will pay € 55 per share for the stake, valuing the transaction at € 600 million. PAI has said that following the deal with KB Home, which is subject to regulatory approval, it plans to fully acquire Kaufman & Broad. The company had sales of € 1,28 billion last year, and was ranked 66th in the 2006 edition of the CE-100, CE's ranking of Europe's largest construction companies.