Sale of Cushman & Wakefield to DTZ ClosedSeptember 02, 2015
Net proceeds to EXOR from the sale of $ 1.278 billion, representing a capital gain of $ 722 million.
On September 1, 2015, EXOR closed the sale of its entire shareholding in Cushman & Wakefield to DTZ, a company owned by an investor group composed of TPG, PAG and OTPP.
As announced on May 11, 2015, the transaction establishes a total enterprise value for Cushman & Wakefield of approximately $ 2.042 billion and generates net cash proceeds to EXOR of approximately $ 1.278 billion, representing a capital gain for EXOR of approximately $ 722 million.
EXOR (Bloomberg: EXO IM, Reuters: EXOR.MI) is one of Europe’s leading investment companies and is controlled by the Agnelli Family. With a NAV (Net Asset Value) of € 12 billion, EXOR focuses on global businesses primarily based in Europe and in the U.S. and actively participates in building its companies for the long term. For further information: www.exor.com.