Delegates of The European Group of Valuers’ Associations (TEGoVA) voted in favor of developing European Business Valuation Standards (EBVS), according to a report. These standards will be tailored to the needs of real estate valuers who also undertake business valuations as well as real estate valuers seeking to diversify into the field of business valuation. TEGoVA will develop training programs for real estate valuers who wish to develop business valuation skills. A committee of business valuation experts within the ranks of TEGoVA’s members will draft the EBVS in the coming months. The report did not mention that the new standards would include or be based on International Valuation Standards (IVS) from the IVSC. TEGoVA is a European nonprofit association composed of 72 valuers’ associations from 37 countries representing more than 70,000 valuers in Europe.