Vatican Nears Sale of London Building Ensnared in Corruption Scandal

The Vatican is close to a deal with two private-equity firms to sell a London commercial building at the center of one of the major scandals of Pope Francis’ reign.

An investment arm controlled by Bain Capital LP and London-based property investor CIT Group Partners LLP are in talks to buy 60 Sloane Avenue from the Vatican for close to £200 million, equivalent to around $270 million, according to people familiar with the matter. The deal could be announced in the coming weeks, assuming talks don’t break down.