64% Stake Taken in Belgian Property Consultant
Savills PLC
13 April 2000
Savills acquires business in Belgium
The Directors of Savills plc ('Savills') are pleased to
announce the acquisition of a 64% stake in the business
of D & T Property Consultants s.p.r.l. ('QD&T'), a
Brussels based real estate agent and property adviser.
D&T's business was acquired by FPDSavills' Belgium s.a., a
newly formed subsidiary of which Savills owns 64%; the
remainder of the shares are held by management. The
consideration agreed by Savills for the acquisition was a
maximum of £125,000.
Victoria Mitchell, Director of Savills plc, commenting on
the transaction said:
'D&T (formerly Profi) has been a member of FPDSavills'
international network since 1995 and we are delighted to
further strengthen this relationship through its direct
inclusion within the Savills group. The transaction
represents a further step in Savills' strategy of
developing its international presence outside its
traditional UK market. Belgium is becoming increasingly
important in view of the proposed expansion of the
European Union and the size of the Commission in
Brussels. Not only is it producing a strong local market
but there is a need for us to service our international
corporate real estate clients in this key city together
with the international property funds wishing to take
advantage of the strong commercial investment market.'
Contacts:
Victoria Mitchell (Tel) (0) 20 7409 8840
Director, Savills plc (Fax) (0) 20 7753 8924
Thomas Runsbech (Tel) + 32 2 646 2550
Managing Director, FPDSavills Belgium s.a.
(Fax) + 32 2 646 0923
Saskia Smet
Managing Director, FPDSavills Belgium s.a
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