July 29 (Reuters) - Quintain Estates and Development Plc is in talks to be bought by private equity firm Lone Star Funds in a deal that could value the London property group at more than 600 million pounds ($936.30 million), Sky News reported on Tuesday.
U.S.-based Lone Star had been examining an offer for Quintain for several months as it sees potential in the London-based company's land around Wembley Stadium, Sky News said, citing a source. (http://bit.ly/1IpEZl6)
The deal, which is close to being agreed upon, could be confirmed as soon as Wednesday, Sky News reported.
Morgan Stanley is advising Lone Star, while JPMorgan Chase & Co and Lazard are acting as financial advisers for Quintain, the report said.
Lone Star and Quintain could not immediately be reached for comment.
($1 = 0.6408 pounds) (Reporting by Ismail Shakil in Bengaluru; Editing by Lisa Shumaker)