The Property Franchise, a company engaged in the residential property franchising business, agreed to merge with Belvoir, a property franchise group, in a £214m ($272m) deal. "I am delighted to confirm that we have reached an agreement with the Belvoir Board and major Belvoir Shareholders on the Merger with Belvoir. We believe that the Merger represents a compelling opportunity for all shareholders. Belvoir brings further breadth through its nationwide network and a financial services business which will be complementary to our current offering. The Merger will enable us to continue to grow in the sector and, ultimately, deliver greater value to shareholders of the Combined Group," Paul Latham, TPFG Non-Executive Chairman.