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Kier buys


Kier Group has bought regional house builder Hugh Bourn Developments (Wragby) Ltd for £53.3 million. Kier will pay £20 million immediately and the balance in equal instalments on July 2 2007 and July 1 2008. Hugh Bourn has operated in Lincolnshire for over 30 years. It posted a pre-tax £4.2 million profit and gross assets of £29.9 million for the year ended March 31.