Cushman & Wakefield to merge with DTZ
Cushman & Wakefield and DTZ have reached a definitive agreement to merge and are set to become one of the largest global real estate services companies.
The new company will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional, corporate and private clients.
Founded in 1917, Cushman & Wakefield has 259 offices in 60 countries, employing more than 16,000 professionals. DTZ has more than 26,000 employees operating across more than 260 offices in 50 countries.
The new company will operate under the Cushman & Wakefield Brand and Brett White will assume the role of chairman and chief executive officer of the combined company, says the two organisations.
The new Cushman & Wakefield will create a top-tier global commercial real estate service provider in every service line and every major geography in the world.
The transaction is expected to close before the end of the year and is subject to customary closing conditions.
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