LDC exits GVA with Bilfinger sale

Lloyds Development Capital (LDC) is selling its stake in GVA, the UK’s largest commercial real estate consultant, to German engineering and services giant Bilfinger for an undisclosed sum. LDC invested £40m for a 27.5 per cent stake in GVA, but is now exiting the business. Bilfinger said yesterday that 99 per cent of GVA shareholders had accepted its purchase offer, paving the way for a complete purchase of the real estate group. Bilfinger has spent about €800m on two dozen companies since 2011.