Private equity group MGPA is understood to have abandoned plans to purchase Broadgate in the City, the Independent on Sunday newspaper has claimed. The sale reportedly collapsed as MGPA failed to find a partner for the investment. The newspaper said the private equity firm had approached the Abu Dhabi sovereign wealth fund to partner in the acquisition, but has not been successful.
Private equity group MGPA is understood to have abandoned plans to purchase Broadgate in the City, the Independent on Sunday newspaper has claimed. The sale reportedly collapsed as MGPA failed to find a partner for the investment. The newspaper said the private equity firm had approached the Abu Dhabi sovereign wealth fund to partner in the acquisition, but has not been successful.
British Land was seeking to sell a 50% stake that would have valued the complex at £2.5 bn. Broadgate has an estimated £2 bn debt, of which MGPA would have assumed half.
