Stanhope founder Sir Stuart Lipton has completed the sale of his stake in the private property company to chief executive David Camp.
The deal values Stanhope at just over £20m.
Sir Stuart, Stanhope’s outgoing chairman, will keep a 44% interest in Stanhope’s 25% stake in Stratford City, the £4bn East London regeneration project.
Camp now owns 92% of Stanhope, while Peter Rogers retains a small stake.
Sir Stuart is poised to be appointed deputy chairman of Chelsfield Partners a £1bn European property fund headed by Elliott Bernerd and backed by some of the UK’s most well-known property figures.
References: EGi News 23/12/05
