Savills PLC
26 April 2002
FOR IMMEDIATE RELEASE 26 April 2002
SAVILLS plc
Acquisition of Agricultural Consultancy Business
The Directors of Savills plc ('Savills') are pleased to announce the acquisition
by its 85% owned subsidiary, Aubourn Farming Limited, of Andersons South & West
partnership, an agricultural consultancy business in Salisbury and Hereford.
The consideration for the acquisition is £340,000 payable in phased cash
instalments between completion and April 2004. An adjustment to the
consideration will be made post completion for the balance of undrawn profit at
the date of completion.
Philip Wynn, Managing Director of Aubourn Farming, commented: 'This transforms
Aubourn into a national consultancy business. I believe this to be a really
positive move between two highly successful and complementary businesses which
will enable us to support our clients in the best way possible at a time when
trading in the sector is so difficult. By joining forces with Andersons South
and West we will now be able to field a countrywide team of consultants of
outstanding talent who can take our business forward and provide comprehensive
advice on all matters affecting the rural sector.'
Further enquiries, please contact:
Philip Wynn, Aubourn Farming Limited 01522 788224
This information is provided by RNS
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