Cushman & Wakefield has today agreed a deal to acquire the remaining 50% of the share capital in DTZ Luxembourg. The transaction is expected to close before the end of October and is subject to customary closing conditions.
By bringing together the two businesses, which will be operated as Cushman & Wakefield, the firm has now consolidated its entire presence across the Benelux region under single ownership following the global merger of Cushman & Wakefield and DTZ in September 2015. Last year, the firm acquired DTZ Zadelhoff in the Netherlands.
Sébastien Bequet has been appointed the new Head of Luxembourg for Cushman & Wakefield. He has been with Cushman & Wakefield for nearly 14 years and was previously Head of Office Agency in Luxembourg.
In his new role, Sébastien will lead the integration of the two businesses and define the new strategy for Luxembourg, working closely with Koen Nevens, Cushman & Wakefield’s Head of Northern Europe Region. Jean-Pierre Lequeux, formerly Managing Director of DTZ Luxembourg, will continue his career outside the organisation.
Sébastien Bequet, Head of Luxembourg, Cushman & Wakefield, said: “Today marks a key moment for our business in Luxembourg and will create significant opportunities for our clients as well as our people. This is just the start and I am excited about what we are going to achieve together.”
Koen Nevens, Head of Northern Europe Region for Cushman & Wakefield, said: “We believe there is strong growth potential in Luxembourg. Sébastien will oversee the integration of what is now a single Cushman & Wakefield business, working closely with me. I’m delighted to welcome our new colleagues to the firm and we wish Jean-Pierre all the best for the future.”
John Forrester, Chief Executive EMEA, Cushman & Wakefield, said: “This acquisition underlines our commitment to strengthening our capabilities across the region to ensure we have the best people and platform to deliver outstanding results for our clients. It also highlights our continuing confidence in Luxembourg’s growing real estate market.”