According to the Wall Street Journal, the Italian family Agnelli has hired Goldman Sachs and Morgan Stanley to find a buyer for the third largest real estate company in the world, Cushman & Wakefield Inc, under their control, quoting people familiar with the matter.
The sale could fetch as much as $2 billion, for the company that recorded $163 million in earnings in the 12 months that ended in September, according to the newspaper, and acquired New York-based Massey Knakal Realty Services for $100 million late last year.
The Agnelli family, which currently owns 81 percent of the company, paid $565.4 million for a 67.5 percent stake in Cushman & Wakefield 8 years ago, according to the WSJ. “There is currently no transaction to disclose, nor guarantee that such a review may result in any transaction involving Cushman & Wakefield,” a Cushman & Wakefield spokesman said.