Deal struck to sell LDV assets

The assets of stricken vanmaker LDV are to be sold to vehicle engineering company Eco Concept, administrators announced today.

PricewaterhouseCoopers (PwC) said it had exchanged contracts with Eco Concept - owned by China Ventures – after nine weeks of “intensive” negotiations.

But PwC dealt a blow for hopes that production would be resumed at the Birmingham-based firm’s site at Washwood Heath, saying the new owner intended to relocate the assets.