Cushman & Wakefield, one of the biggest real estate service companies on the global market, is looking for a buyer, according to wide-ranging media reports. The Wall Street Journal writes that Exor, the investment arm of the Agnelli family, which runs the company, has already selected Goldman Sachs Group and Morgan Stanley to help look for a buyer in a deal that could fetch more than $2bn. The family paid $565.4m for a 67.5-percent stake in C&W eight years ago. Exor does not want to sell the company to its direct competitors, according to unofficial sources.
The company said in a statement on Tuesday that “there is currently no transaction to disclose, nor guarantee that such a review may result in any transaction.” However, C&W and Exor “continually seek ways to further enhance the businesses, create value and further accelerate” their plans.
