Italian company Exor, controlled by the Agnelli family, will gain 722 million dollars following this transaction. Exor mentioned that DTZ, owned by TPG group, will merge with Cushman&Wakefield, following one of the largest real estate consultancy company in the world.
The transaction will be completed in the fourth quarter of the year. According to New York Times, the transaction will create a company with an annual turnover of 5 billion dollars. Moreover, the new company will apparently keep the name of Cushman&Wakefield.
BothDTZ and Cushman&Wakefield are present on the local market. DTZ the company DTZ Echinox, while Cushman&Wakefield is present through the affiliate company Activ Property Services. (Source: wall-street.ro)