Lazard is close to winning fees for another headline UK public-to-private property deal as it advises a joint venture seeking to take control of Asda Property in a deal worth £231.7m (€366.5m).

BL Davidson, a joint venture bidding vehicle made up of British Land and the family of Asda Property's chief executive, said that it has received acceptances from more than 50% of Asda Property's shareholders.