Derwent Valley readies property merger

Derwent Valley is using Financial Dynamics for its £1bn purchase of fellow property developer London Merchant Securities (LMS).

The deal could spark a battle for the merged company's comms account between FD and Brunswick - the LMS incumbent for more than three years.

The deal, confirmed last week, will create a property giant in London's West End - where two-thirds of Derwent Valley and LMS's property is located, and where prime commercial floor space costs up to £100 per square foot.

FD managing director Stephanie Highett heads the Derwent account and Brunswick partner Simon Sporborg heads the LMS brief.

SEPERATELY... FD is advising kitchen appliance maker Enodis as it prepares a defence against oven brand Aga. The latter company wants to buy its rival for nearly £800m.

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