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UK's Quintain in takeover talks with U.S.-based Lone Star - Sky News

(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)