Savills Regulatory News (SVS)

11 Jan 2007 07:00

Savills PLC11 January 2007 **Not for publication, distribution or release in the United States of America (including its territories and possessions), Canada, Japan or Australia** This announcement is not a prospectus. Investors should not purchase any sharesreferred to in this announcement on the basis of this announcement. PRESS RELEASE 11 JANUARY 2007 CB Richard Ellis Group, Inc. to sell stake in Savills plc CB Richard Ellis Group, Inc. ("CBRE") today announces its intention to explore asale of up to 25,878,398 ordinary shares ("the Offering") in Savills plc ("Savills"), representing approximately 19.2% of the issued share capital ofSavills held by Trammell Crow Company which CBRE acquired on 20 December 2006.Credit Suisse Securities (Europe) Limited, Hoare Govett Limited and MorganStanley Securities Limited are acting as joint bookrunners in an acceleratedbookbuild being launched today. Savills confirms that it has previously indicated that it may consider buyingback for cancellation some of its ordinary shares, should they be sold by CBREin an offering. By virtue of CBRE being a related party as defined by the UKListing Rules, Savills would be permitted to buy back up to a maximum of 4.9% ofits issued share capital. Enquiries: CB Richard Ellis Group, Inc. Tel: +1 310 606 4706Kenneth Kay, Senior Executive Vice President and Chief Financial Officer Savills plc Tel: +44 (0)20 7409 9923Aubrey Adams, Group Chief Executive Officer Credit Suisse Securities (Europe) Limited Tel: +44 (0)20 7888 8888Antony Isaacs, Equity Capital MarketsRichard Probert, Investment Banking Hoare Govett Limited Tel: +44 (0)20 7678 8000Alex Garton, Corporate BrokingJohn MacGowan, Equity Syndicate Desk Morgan Stanley Securities Limited Tel: +44 (0)20 7425 8000John Porter, Global Capital Markets About CB Richard Ellis Group, Inc. CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in LosAngeles, California, is the world's largest commercial real estate services firm(in terms of 2005 revenue). With approximately 21,000 employees, CBRE servesreal estate owners, investors and occupiers through more than 200 officesworldwide (excluding affiliate and partner offices). CBRE offers strategicadvice and execution for property sales and leasing; corporate services;property, facilities and project management; mortgage banking; appraisal andvaluation; development services; investment management; research and consulting.Further information is available at www.cbre.com About Savills plc Savills plc (LSE: SVS), a FTSE 250 company headquartered in London, is a leadinginternational property consultancy, with a global presence and reputation. Itssuccess is based on its experienced and committed team of property consultantsand real estate agents, with over 140 offices and associates world-wide. Thecompany offers expert advice on all aspects of commercial, rural and residentialproperty through consultancy and transactions, property related financialservices and corporate finance. It also operates a specialist fund managementdivision. Further information is available at www.savills.com The contents of this announcement, which have been prepared by and are the soleresponsibility of CBRE and Savills, have been approved by Credit SuisseSecurities (Europe) Limited, Hoare Govett Limited and Morgan Stanley SecuritiesLimited solely for the purposes of section 21(2)(b) of the Financial Servicesand Markets Act 2000. This announcement does not constitute an offer of, or thesolicitation of an offer to buy ordinary shares in Savills plc in the UnitedStates or in any other jurisdiction. The offering of the ordinary shares has notbeen and will not be registered under the US Securities Act of 1933, as amendedand no public offering of such ordinary shares will be made in the UnitedStates. This announcement contains certain "forward-looking statements". In particular,the words "intends", "may", "should", "believes", "target", "anticipate","expect", "will" and similar expressions can be used to identify forward-lookingstatements. Certain important factors could cause actual results or outcomes todiffer materially from those expressed in forward-looking statements. Suchforward-looking statements involve known and unknown risks, uncertainties andother important factors beyond CBRE's or Savills' control that could cause theactual results, performance or achievements of CBRE or Savills to be materiallydifferent from future results, performance or achievements expressed or impliedby such forward-looking statements. Such forward-looking statements are based onnumerous assumptions regarding CBRE's and Savills' present and future businessstrategies and the environment in which CBRE and Savills may operate in thefuture. Forward-looking statements speak only as of the date they are made. Credit Suisse Securities (Europe) Limited, Hoare Govett Limited and MorganStanley Securities Limited, each of which are authorised and regulated in theUnited Kingdom by the FSA, are acting exclusively for CBRE, CB Richard EllisInc. and Trammell Crow Company and no-one else in connection with the Offering.They will not regard any other person as their respective clients in relation tothe Offering and will not be responsible to anyone other than CBRE, CB RichardEllis Inc. and Trammell Crow Company for providing the protections afforded totheir respective clients, nor for providing advice in relation to the Offer, thecontents of this announcement or any transaction, arrangement or other matterreferred to herein. This information is provided by RNS The company news service from the London Stock Exchange