May 11, 2015
Italian investment firm Exor has agreed to sell global brokerage firm to DTZ for $2B, they announced Monday.
The deal, if completed will create a combined real estate services company with more than 43,000 employees and annual revenues of over $5B. The company will operate under the Cushman & Wakefield brand name. This announcement comes mere months after the completed of the Cassidy Turley & DTZ acquisition by TPG partners which created the DTZ brand.
DTZ is backed by the Ontario Teacher’s Pension Plan and private equity firms TPG Capital and PAG Asia Capital.
The deal is subject to regulatory approval.