US private equity group Lone Star has withdrawn its UK residential property company Quintain from sale, aborting what would have been a record transaction for the country’s rented housing sector.
Lone Star had been seeking more than £2.2bn for Quintain — which owns one of London’s largest urban regeneration sites at Wembley Park — but had failed to reach an agreement on price with any bidder.
It spent the past few weeks locked in negotiations with the leading contender, a consortium of investors led by Delancey, a UK property company.
