Savills Agrees to Buy Eastdil Secured in $1.1 Billion Deal

Savills Plc has agreed to acquire New York-based Eastdil Secured Holdings LLC in a deal that values the real estate advisory business at $1.1 billion, including debt.

The deal, which significantly expands the UK broker’s presence in the US real estate market, will be funded with debt and the issue of new shares, according to a statement Thursday. Eastdil’s shareholders will own about 16% of the enlarged group.