Lone Star Funds Pulls Plug on sale of Quintain Limited

US private equity group Lone Star Funds has shelved the £3bn sale of its UK residential property company Quintain Limited, which owns the Wembley Stadium development site, blaming the worsening coronavirus situation.

A sale at that price would make the deal the largest ever in the UK’s rented housing sector. But the sales process was aborted after a dramatic spike in coronavirus cases prompted a third national lockdown.

Lone Star, which took Quintain private in 2015 for £1bn including debt, will now continue to invest in the estate, developing the remainder of the planned apartments.

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