Savills completes Studley acquisition

May 31, 2014 | 17:00

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International real estate advisor Savills on June 3 confirmed the completion of its acquisition of 100 per cent of Studley Inc., a leading US independent commercial real estate services firm specialising in tenant representation.

Savills also announced that on May 29, Studley agreed to sell its 49 per cent interest in AOS Partners Holdings SAS (AOS Studley) to the founding shareholder of AOS Studley. This followed the announcement on May 1 that the AOS Studley interest would be held as an asset for sale. The sale, which is subject to customary conditions, is due to complete this summer.

The payable by Savills for Studley is up to $260 million. The newly combined US business will be re-branded Savills Studley.

Studley’s top 500 US clients have over 9,000 locations within Savills current markets outside of the US, highlighting the tremendous business opportunities for both firms.

Neil MacGregor, managing director of Savills Vietnam, commented: “We have seen a growing requirement from US companies throughout the Vietnamese office market over the last few years and this is a trend we only expect to become more prominent. We are very much looking forward to working with our new colleagues at Savills Studley to meet the growing needs of these occupiers. This announcement comes at a time when our Savills Vietnam team is receiving growing recognition for the quality of our services, most notably with our recent award as the Best Lettings Agency in the Asia Pacific.”

By By Tuong Thuy

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