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Despite constant statements by analysts, most notably Max Warburton of Sanford C. Bernstein, that Exor, the Agnelli family holding company, is eager to get out of the car business, it seems Exor is more eager to get out of the real estate business.
Exor has retained Goldman Sachs and Morgan Stanley to find a buyer for Cushman & Wakefield, the world’s third-largest real estate company.
Exor bought a controlling interest in the firm in 2007, paying $565.4 million for a 67.5% stake. Since then, Exor has increased its holdings to 80.9%.
The sale could bring as much as $2 billion to Exor.
Exor still doesn’t seem to be in any hurry to dump its shares of FCA, which closed at … (full article) Read the rest...
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Exor has retained Goldman Sachs and Morgan Stanley to find a buyer for Cushman & Wakefield, the world’s third-largest real estate company.
Exor bought a controlling interest in the firm in 2007, paying $565.4 million for a 67.5% stake. Since then, Exor has increased its holdings to 80.9%.
The sale could bring as much as $2 billion to Exor.
Exor still doesn’t seem to be in any hurry to dump its shares of FCA, which closed at … (full article) Read the rest...
More...