London & Country to sell stake to Corsair Capital
Private equity firm Corsair Capital is on the verge of buying a 30% stake in London & Country Mortgages, according to reports.
The pair have been in discussions since autumn, while if the deal goes through Corsair chairman Lord Mervyn would sit on L&C’s board.
It’s expected that L&C’s chairman Mike Edge, who owns a majority stake in the business, will remain a significant shareholder even if the deal gets over the line.
L&G has been searching for an investor since autumn ahead of a potential IPO on the next few years.
London & Country declined to comment.
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