Shares in KB Home gained 3 percent Friday after the Los Angeles homebuilder said that it has received an offer for its 49 percent stake in Paris-based homebuilder Kaufman & Broad SA valued at $782 million.

The bid for KB’s 11 million shares in France’s largest homebuilder was $71.82 per share, 15 percent less than Kaufman & Broad’s closing price Thursday on the Euronext Paris exchange. KB Home said it will evaluate the offer and is reviewing options for the unit, including a possible private sale of the company.

Reports surfaced in March that the fifth-largest homebuilder in the U.S. was mulling a sale of its stake in the French homebuilder. Kaufman & Broad has been one of the few bright spots for the struggling Los Angeles homebuilder, which has seen profits dip and shares slip 20 percent since February.

Shares in KB gained $1.39, or 3.2 percent, to $44.64 in afternoon trading Friday on the Nasdaq.