Savills IM & Samsung Life Investment Alliance

RNS Number : 1895X

Savills PLC

31 December 2021

 

SAVILLS PLC

("Savills" or "the Company")

Savills announces completion of the Strategic Investment Alliance between Savills IM and Samsung Life

Further to the announcement on 27 May 2021 of the proposed acquisition by Samsung Life of an initial minority stake of 25% in Savills IM for £63.75m, Savills announces that the transaction completed on 31 December 2021.

As part of the Transaction, Samsung Life has committed to invest capital of at least US$1bn to Savills IM's investment strategies, over the initial four years of the relationship.  Under the agreement, Samsung Life also has options to increase its interest in Savills IM by up to a further 10%, the maximum being achievable if at least US$2bn of capital is committed over the same period.

For further information, contact:

Savills                                                                                                    020 7409 8934

Mark Ridley, Group Chief Executive

Simon Shaw, Group Chief Financial Officer

Tulchan Communications                                                                  020 7353 4200

Mark Burgess

Elizabeth Snow

 

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