A British estate agency is to take on the American market after agreeing to buy a New York-based group in its largest acquisition in history.
Savills, which is also a property consultancy, is to pay $260 million for Studley group, which specialises in representing tenants such as large companies and retailers.
If the purchase goes through it will be a significant game changer for Savills, boosting the agency’s US revenue from under 1 per cent of its $1.53 billion revenue last year to about 15 per cent...Savills takes on the American market
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