The relationship between the Qatar Investment Authority and Three Delta, its UK investment adviser run by Paul Taylor, has broken down and the sovereign wealth fund is working on buying out his interest in Four Seasons, the UK nursing home operator. The potential split between QIA, which made an abortive takeover bid for the J Sainsbury’s supermarket chain last year, and Taylor could prompt the fund to buy out all four investments made since Three Delta’s creation two years ago. The Delta Fund spent about £3bn on four UK care businesses but the £1.4bn buyout of Four Seasons is under most pressure because at least £1.2bn of its £1.5bn debt load is due for repayment in just three months time.

This entry was posted by Gwen Robinson on Wednesday, June 4th, 2008 at 5:30 and is filed under Capital markets, M&A. Tagged with Four Seasons, QIA, three delta. Edit this entry.