Lord Norman Foster, the Pritzker Prize-winning architect, has sold a minority stake in his London-based firm, Foster & Partners, to 3i Group Plc to fund the company's expansion in China, the Middle East and Russia. Foster announced the sale to Europe's largest publicly traded buyout firm last week in a video interview posted on his firm's website, Bloomberg reported. The financial details were not revealed.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
