Savills agrees $1bn deal to buy Eastdil Secured in major US expansion push

"Savills will pay approximately $921 million for the business in a transaction combining both cash and shares. Around $553 million will be paid in cash, while roughly $369 million will be settled in Savills shares issued to existing Eastdil investors, including Singapore's sovereign wealth fund Temasek, Guggenheim Partners and a group of senior staff shareholders."

"Eastdil Secured is widely regarded as one of the most influential advisers in the global property capital markets sector. The firm specialises in advising major landlords, developers and institutional investors on high-value property sales, financing arrangements and complex investment transactions."

"By bringing Eastdil into the group, Savills aims to significantly deepen its foothold in the United States, the world's largest property investment market, where the company has historically had a more limited presence compared with Europe and Asia."

Savills, a London-listed property adviser, has agreed to acquire Eastdil Secured, a prominent US property investment bank, for close to $1 billion. The transaction combines $553 million in cash with $369 million in Savills shares distributed to existing Eastdil investors, including Temasek, Guggenheim Partners, and senior staff shareholders. This represents the first major deal under new CEO Simon Shaw. Eastdil Secured specializes in advising major landlords, developers, and institutional investors on high-value property transactions and capital markets activities. The acquisition strategically addresses Savills' limited presence in the United States, the world's largest property investment market, where the company has historically maintained weaker capabilities compared to Europe and Asia.

Read at Business Matters