131
131
  • Transaction / Assets
    Savills buys Aguirre Newman
  • Seller
    Aguirre Newman
  • Buyer
    Savills
  • € MM
    67

Savills Buys Aguirre Newman

28 July 2017

Savills plc, one of London’s largest real estate consulting firms, has just announced the purchase of Aguirre Newman for 67 million euros. The acquisition is expected to be completed by November 30, 2017, with the payment of the acquisition in tranches over the next five years.

For most observers, this acquisition is a direct consequence of the vote in favour of Brexit, and constitutes a repositioning of the British company in what will be the future market of the European Union after the definitive withdrawal of the United Kingdom.

Founded 162 years ago (1855), Savills is a benchmark company, particularly in the United Kingdom, and in 2016 ahad a turnover of around 1.446 billion pounds (1.620 billion euros). The company has 30,000 employees worldwide and 700 offices and associates in the Americas, UK, Continental Europe, Asia Pacific, Africa and the Middle East.

Aguirre Newman was founded in Spain by Santiago Aguirre and Stephen Newman in 1988. The firm employs more than 400 people, is headquartered in Madrid and has offices in Barcelona, ​​Malaga, Lisbon and Porto. In 2016, it had a turnover of 69 million euros.

According to the Spanish press, after the conclusion of the purchase, the companies Aguirre Newman and Savills Spain will integrate and will operate under the brand Savills Aguirre Newman.

The presidents of Aguirre Newman – Santiago Aguirre and Stephen Newman – and the president of Savills España, Rafael Merry del Val, will join the board of directors of the new company. Santiago Aguirre will be the CEO and Stephen Newman and Rafael Merry del Val, the executive vice presidents.

Original Story: Diário Imobiliário

Translation: Richard Turner