Cushman & Wakefield acquires remaining 50% of DTZ Luxembourg
US-headquartered Cushman & Wakefield - backed by private equity firm TPG – completed a global merger with DTZ in September 2015.
29.09.2017
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.