Ian Laing buys stake for about 拢5m following restructuring at Stanhope.
The board of property developer Stanhope is understood to have sold a 25% stake in the company to property entrepreneur Ian Laing.
The deal has been struck on the back of a restructuring at Stanhope, whereby chief executive David Camp and his financial backers bought out the 44% stake previously held by the company's founding director Sir Stuart Lipton.
Despite offloading 25% of Stanhope, Camp will retain more than half of the company, and Lipton remains as an adviser.
It is thought that Laing has paid around 拢5m for the stake and Laing is also expected to pump cash into the business to allow Stanhope to take bigger equity stakes in developments.
Laing is also expected to become a non-executive director at Stanhope.
