Last checked at 3 May 2011 15:54
3 May 2011
SAVILLS PLC
("Savills" or "the Group")
Disposal of majority interest in Savills Private Finance
Savills plc, the international real estate advisor, announces that it has today completed the sale of a majority interest (80.01%) in Savills Private Finance (SPF) to the SPF senior management team. At 31 December 2010, the SPF business had gross assets of £4.2 million.
The business will be renamed "SPF Private Clients" and will continue to provide a full financial services solution to Savills clients and staff. Savills will continue to hold a 19.99% stake in the business.
For further information, contact:
Savills 020 7409 8844
Simon Shaw, Group Chief Financial Officer
Tulchan Communications 020 7353 4200
John Sunnucks
Peter Hewer