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Sign in Sign up for a FREE subscriptionSavills IM and Samsung Life team up for strategic investment alliance
Savills Investment Management (Savills IM) has entered into an agreement to form a strategic investment alliance with Samsung Life, a Korean Life Insurer, and its real estate asset management subsidiary, Samsung SRA.
As part of this agreement, Samsung Life will acquire a minority interest in Savills IM Holdings Ltd. and commit capital of $1 billion to Savills IM’s investment strategies over the initial four years of the venture. The transaction, which is conditional on various regulatory approvals and other customary closing conditions, is expected to complete in the fourth quarter of 2021.
On completion of the transaction, Samsung Life will acquire an initial minority stake of 25 percent in Savills IM for £63.75 million (€74/13 million/$90.42 million) in cash, subject to completion adjustments. Under the agreement, Samsung Life has options to increase its interest in Savills IM by up to a further 10 percent over the initial term, depending upon the quantum and ti
