FRANKFURT: German industrial and services company Bilfinger has offered to buy privately owned UK commercial property consultant GVA Grimley Holdings, its latest in a series of deals to focus on service businesses.
Bilfinger said yesterday it had submitted an offer to the nearly 300 shareholders of GVA Grimley and both parties have agreed to keep the terms confidential. The offer runs for four weeks.
Bilfinger has been on buying spree since 2011, spending about €800m acquiring about two dozen companies as it reduces its dependence on the construction sector. Acquisitions include UK facility services company Europa, automation technology specialist GreyLogix and power plant control systems specialist Helmut Mauell. Reuters
