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CBRE, the Green property giant, are in preliminary talks with Bilfinger to acquire GVA and the other property- related businesses under the German ownership. Talks are in the early stages and are being held in Mannheim, Germany the HQ of Bilfinger. At this stage no cost has been established, however Bilfinger GVA alone is thought to be worth up to £175 million; the final sum will be dependent on what other property related businesses are included in the deal.
The news is yet another piece of M&A deals to have been reported this year; Colliers International purchase of Hatton Real Estate was the first big deal of 2016, swiftly followed by Avison Young acquiring North Rae Sanders and this week Montagu Evans having purchased Smith Young Real Estate. This is also in the wake of the near purchase of GM Real Estate by Colliers International in 2015 and the mega-deal merger between DTZ and Cushman and Wakefield.
So, does 2016 have more ‘big’ Merger and Acquisitions on the horizon? Eugene O’Sullivan, Director at tenant acquisition specialist Morgan Pryce, believes there may be more to come over the next year.
“The news of CBRE circling Bilfinger GVA follows on from some recent big transactions in 2016. Rumours in the market suggest Strutt & Parker may be the next mid-big sized property company to be snapped up by one of the global giants; CBRE and JLL have been linked with a takeover. There have also been suggestions that JLL and Savills were in talks early last year over a potential merger and there was the LSH approach for Deloitte Real Estate. I think the next year will see further near-misses and big deals.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.