LDC exits GVA with Bilfinger sale

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ref="http://www.cityam.com/company/lloyds-banking-group">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.