Ontario Teachers-backed DTZ to merge with Cushman & Wakefield
DTZ, which was acquired in 2014 by an investor group that included TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan, has agreed to buy Cushman & Wakefield, a U.S. commercial real estate services group. The deal, which Reuters reported is valued at about US$2 billion, will create one of the world's largest real estate services platforms operating under the Cushman & Wakefield brand, the companies said. The seller in the transaction is Exor SpA, an Italian family-owned investment firm. DTZ's backers have committed to investing in the merged entity, which will have revenues of over US$5.5 billion and will manage more than 4 billion square feet on behalf of clients.
11 May 2015•6 mins read
