Savills to acquire Eastdil Secured for $1.11bn.

Savills, a real estate services provider, agreed to acquire Eastdil Secured, a real estate investment bank, for $1.11bn. "Eastdil Secured is an organisation we have worked with and admired for many years. It has a complementary geographical footprint and similar culture to our own. This acquisition is a significant step forward for both of us, bringing to the global investment community a much-needed choice of leading advisory partner to deliver a comprehensive suite of investment banking, strategic, financial, development, leasing and other “boots on the ground” property solutions. By acquiring a leading REIB provider, the improved breadth of our services and enhanced global footprint will create significant growth opportunities for the combined Group’s staff and significant value to our clients and shareholders alike," Simon Shaw, Savills Group Chief Executive.