June 27, 2019 / 6:36 AM / 5 months ago

Legal & General strike $5 bln house-building JV with Oxford University

LONDON, June 27 (Reuters) - British insurer Legal & General has announced plans to invest up to 4 billion pounds ($5.07 billion) in a 10-year house-building partnership with the University of Oxford.

Legal & General said its investment, derived from its shareholder, annuity and managed funds, would go towards developing an initial 3,000 homes for university staff, graduates and the general market.

The company has formed a 50:50 partnership with the university on the project. ($1 = 0.7887 pounds) (Reporting by Iain Withers, editing by Sinead Cruise)

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