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Report: Lone Star looks to sell London property biz for more than £3B

Lone Star Funds is considering a potential sale of London property developer Quintain Ltd. for more than £3 billion, London's Financial Times reported.

The private equity giant hired Eastdil and Credit Suisse to work on a sale of the business as it looks to cut its exposure to the U.K property market ahead of Brexit, the publication noted, citing people familiar with the matter.

The unnamed sources also told the publication that Lone Star might also consider a partial sale of Quintain, which it took private for roughly £1 billion, including debt, in 2015.

Quintain did not comment on the matter, according to the publication.