British property consultant Savills Plc (SVS.L) said it would buy U.S.-based commercial real estate services firm Studley Inc. for up to $260 million (153.90 million pounds) to expand in North America.
Savills said it would pay an initial consideration of up to $130 million in cash and shares. It will also issue promissory notes worth up to $130 million — with $60 million being paid a year after the deal closes and $70 million two years after that.
The FTSE-250 company said it expected to seal the deal by May 30, following which it would rebrand its U.S. arm as Savills Studley.Property consultant Savills to buy US firm for up to $260 million
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