Exor exits the real estate business. The financial holding company of the Agnelii-Nasi family announces that it has entered into a definitive agreement for the sale of Cushman & Wakefield to DTZ, which will merge to create one of the largest real estate services companies in the world. The transaction gives Cushman & Wakefield an overall enterprise value of $2,042 billion.
Exor, due to a fully diluted 75% stake held in Cushman & Wakefield, will collect 1,278 billion dollars, with a capital gain of approximately 722 million. The completion of the transaction, which is subject to the customary conditions as well as the approval of the competent authorities, is expected for the fourth quarter of 2015.
