Capital & Counties has agreed to purchase a 26.3% stake in Shaftesbury for £436m.
The news comes after confirmation from Capco last week that it was in talks to buy a stake in the West End landlord.
The purchase means that a legal spat between Shaftesbury and the selling shareholder, Hong Kong-based billionaire Samuel Tak Lee, has now been dropped.
Lee launched legal proceedings against Shaftesbury in June last year relating to a share placing by the REIT in December 2017.
Lee claimed Shaftesbury had undertaken non-pre-emptive placings of around 10% of its issued share capital three times over the past seven years.
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