Fosun mulling bid for Cushman & Wakefield

Brokerage's industry expertise could help Chinese investor manage portfolio

New York /
Mar.March 17, 2015 05:30 PM

Guo Guangchang’s Fosun International is interested in buying Cushman & Wakefield, the global commercial brokerage powerhouse.

A deal is not expected to occur for several months, sources told Bloomberg, and there are many bidders in the mix. Last month, the Agnelli family’s Exor SpA, which owns an 81 percent stake in the brokerage, tapped the Goldman Sachs Group and Morgan Stanley to help find a private buyer. The brokerage could fetch up to $2 billion, as previously reported.

Cushman’s industry expertise could aid Fosun in managing its global real estate holdings and secure new deals, sources told the website.

Fosun announced $21 billion in acquisitions over the past year. In New York City, Fosun paid $725 million for One Chase Manhattan Plaza, now known as 28 Liberty, in 2013. The firm is also expanding its New York staff. [Bloomberg]Mark Maurer


Related Articles

arrow_forward_ios
Cushman & Wakefield CIO Nathaniel Robinson and CEO Brett White (iStock)
Cushman launches $250M SPAC
Cushman launches $250M SPAC
Saadia Group, Lord & Taylor's new owner, will sublet its new headquarters from Cushman & Wakefield. (Getty, RPW Group)
Lord & Taylor owner sublets new Midtown HQ
Lord & Taylor owner sublets new Midtown HQ
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Cushman & Wakefield CEO Brett White, Mayor Bill de Blasio, and Donald Trump, Eric Trump and Donald Trump Jr. (Getty)
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield's Toby Dodd with One Pierrepont Plaza in Brooklyn and One World Trade Center (Photos via Cushman, Brookfield and Pixabay)
Cushman to consolidate its Lower Manhattan and Brooklyn offices
Cushman to consolidate its Lower Manhattan and Brooklyn offices
The discrimination suit filed against Cushman alleges the firm underpaid an employee of color — along with others on his team — compared to white colleagues. (iStock)
Ex-Cushman employee accuses firm of pay discrimination
Ex-Cushman employee accuses firm of pay discrimination
From left: former Vornado CFO Joseph Macnow; ; Howard Hughes Corporation CEO David O’Reilly, former Cushman & Wakefield CFO Duncan Palmer (Photos via Vornado, Howard Hughes, Cushman & Wakefield)
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
Cushman & Wakefield CEO Brett White and CFO Duncan Palmer (Photos via Cushman & Wakefield)
Cushman reports $37.3M loss in Q3
Cushman reports $37.3M loss in Q3
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...