Germany's Bilfinger a frontrunner to buy GVA

GVA is understood to be the finished real estate company bought by the Germany's Bilfinger, which employs 70,000 globally working in engineering and services and confirmed the acquisition. The process follows the timetable set by the GVA when company appointed investment bank Canaccord Genuity to follow further legal process to acquire the GVA. It is one of the largest commercial property advisers operating all the way through the UK and Ireland. It provides multi-disciplinary profitable property guidance and services to customers in the public and private sectors. GVA function via a number of operates divisions (Planning, Development & Regeneration, Building, Project Management & Consultancy, Valuation Services, Capital Markets, Agency) and a local system of 12 UK offices and one Irish Office in Dublin.

Costar published the news about the acquisition that “The Company is on course to meet its target of becoming a debt-free company this year. In May of 2012 GVA agreed a debt-for-equity swap with loan note holder Lloyds Development Capital that saw it convert its £60m of loan notes to a 7.5% stake, which will eventually increase its shareholding in GVA to 30%.The remainder of the business is owned by GVA’s 63 senior directors and 198 other directors.Listed German construction and facilities management group Bilfinger is active in five specific markets - Industrial, Power, Building and Facility, Construction and Concessions. It splits its business regions into Germany, rest of Europe, America, Africa and Asia.EBITA was up 17% to €466m in its last published results.”

The takeover is being reviewed by investment bank Canaccord Genuity bank but Nomura Holdings is taking a lot of interest in the deal. Recently the Nomura Holdings refinances the £237m Camden Lock whole loan to Camden market owner Mr. Bebo Kobo to expand the Camden market. Head of the global market at Nomura said that they seeing a sturdy future in the asset and the Camden market is world renowned place and they delighted to work with management team.