TPG-backed DTZ to buy Cushman & Wakefield for US$2b: WSJ

[BENGALURU] DTZ, a commercial real-estate-services firm backed by private-equity firm TPG, agreed to buy Cushman & Wakefield Inc for US$2 billion, the Wall Street Journal reported on Monday.

The combined company, which will have more than US$5 billion in annual revenue and 250 offices in more than 50 countries, will retain the Cushman & Wakefield name, the newspaper said.

Last month, Italian holding company Exor, which controls Cushman & Wakefield, said it had received several non-binding expressions of interest for the real-estate services company.

REUTERS