Lone Star to Pay $1.1B for UK Developer


Quintain’s Wembley Park development includes the Alto multifamiuly complex now underway.

LONDON—Quintain Estates & Development said Wednesday it would accept a GBP700-million offer fromLone Star Funds to take the developer private. The all-cash deal for 131 pence per share, equivalent to approximately US$1.1 billion, represents a 22% premium over Quintain’s share price at the close ofTRADING ONTuesday. Dallas-based Lone Star is acquiring Quintain through its fourth real estate fund, which closed at $5.8 billion this past April.

In a regulatory filing with the London Stock Exchange, Quintain notes that it operates through three synergistic businesses: residential sales, residential investment and commercial investment. Two of those businesses are centered on Quintain’s redevelopment of London’s Wembley Park, which includes plans to build an additional 5,000 homes there…

Lone Star to Pay $1.1B for UK Developer

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