Cushman & Wakefield acquires remaining 50% of DTZ Luxembourg

Real estate services giant Cushman & Wakefield has acquired the remaining 50% of the share capital in DTZ Luxembourg.

US-headquartered Cushman & Wakefield - backed by private equity firm TPG – completed a global merger with DTZ in September 2015.

The remaining 50% stake of the Luxembourg branch of DTZ was owned locally by Jean-Pierre Lequeux, former Managing Director of DTZ Luxembourg, who has now left the company.

Last year, the firm completed a similar deal when it acquired DTZ Zadelhoff in the Netherlands. 

The company has now consolidated its entire presence across the Benelux region under single ownership and will operate as Cushman & Wakefield.    

Sébastien Bequet has been appointed as the new Head of Luxembourg. He has been with Cushman & Wakefield for nearly 14 years and was previously Head of Office Agency in Luxembourg.

Bequet will lead the integration of the two business and define the strategy for Luxembourg, working closely with Koen Nevens, Head of Northern Europe region for Cushman.

John Forrester, Chief Executive EMEA, Cushman & Wakefield, said the deal highlighted the firm's "continuing confidence in Luxembourg's growing real estate market".  

The transaction is expected to close before the end of October.

(Hannah Brenton, hannah.brenton@wort.lu, +352 4993 728)