Each of UK property firm’s shares will be bought for 131p in cash after its directors recommended that shareholders accept offer from private equity group

Quintain Estates and Development, the developer behind Wembley Arena, has been bought by US private equity group Lone Star for £700m.

Dallas-based Lone Star agreed to pay 131p in cash for each Quintain share. It pledged to contribute “significant additional financial resources” to help Quintain build “more homes more quickly” at Wembley. The directors of Quintain voted unanimously to recommend that shareholders accept the offer.

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Source: The Guardian Circular Economy RSS