A consortium has entered the bidding for Trillium, setting the scene for an intriguing £2b takeover battle for the property outsourcing business owned by Land Securities, according to reports in the weekend press.

According to the Sunday Times, Vincent Tchenguiz has teamed up with AAIM Infrastructure, a fund backed by Bank of Scotland that specialises in investment in public-sector projects.

The consortium is being advised by Credit Suisse, which is also providing debt financing. It has recruited John Mason, a former civil servant, to help table its bid.

Mason was the original architect of the controversial DSS Prime project won by Trillium in 1997, under which the government’s job centres and benefits offices were transferred to the company in a 20-year deal.

The consortium will face stiff competition from Goldman Sachs, which is believed to have teamed up with Serco and Manish Chande, who founded Trillium with backing from Goldman at the end of the 1990s.