Exor says agrees to sell Cushman & Wakefield for $2 bln to DTZ

Mon May 11, 2015 1:40am EDT
 
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MILAN May 11 (Reuters) - Italy's Exor said on Monday it had agreed to sell real estate Cushman & Wakefield to commercial real estate services firm DTZ in a $2 billion deal.

The Italian holding company, controlled by the Agnelli family, said it will post a capital gain from the deal of $722 million.

Exor said that DTZ, which is backed by private equity group TGP, will merge with Cushman & Wakefield to create one of the world's largest real estate services companies. (Reporting by Francesca Landini)