May 11, 2015

TPG-backed DTZ buys Cushman & Wakefield for $2bn

Dolapo Omidire

In a deal that will change the global real estate service landscape, DTZ, backed by TPG capital will acquire Cushman & Wakefield (C&W) for $2bn. The definitive agreement to merge the two companies will see them operate under the Cushman & Wakefield brand and serve as tough competition for the top two real estate service providers globally – JLL and CBRE.

In a statement released by DTZ, Brett White the Executive Chairman of DTZ who will be assuming the position of Chairman and Chief Executive of the new C&W said:

“DTZ is elated to be merging under the prominent Cushman & Wakefield brand. The companies have remarkably complementary skills and reach in different geographies – whether in New York, London or Shanghai, this will be a formidable combination,”

However even with this deal, the combined C&W and DTZ duo may still have smaller teams than JLL and CBRE in key growth markets across Africa where real estate investment interest is growing rapidly.

Related Articles

INDUSTRY NEWS

UPDC Reports ₦15.883 billion Loss for FY:2019

READ MORE
INDUSTRY NEWS

Workstation is now benchmarking pricing of their coworking spaces to the Dollar, here’s why

READ MORE
INDUSTRY NEWS

How SimonKK Closed Deals Using Estate Intel’s Online Platform

READ MORE

Access the data you need now

It's free to sign up! Check out reports, the directory and interactive dashboards.

Sign up for free