- Global real estate firm, Savills, has announced an agreement between its subsidiary Savills Investment Management (IM) and Samsung Life.

In a newly formed strategic investment alliance, the investment management branch of Savills will join forces with Samsung Life and its real estate asset management subsidiary - Samsung SRA.

Samsung Life will acquire a minority interest in Savills IM holdings and commit capital of $1 billion to its investment strategies over the first four years of the relationship.

The transaction is subject to approval by regulatory authorities and is expected to close in Q4 2021.

Subsequently, Samsung Life will acquire a 25% stake in Savills IM for £63.75 million in cash.

Samsung Life will have the option to increase its interest in Savills IM by up to 10% more, over the initial term.

‘This transformational alliance will be unique in the industry, combining Savill IM's existing strengths as an investment manager with extensive local transaction and asset management capability in real estate debt and equity markets, with the strong capital support of Samsung Life. It will significantly enhance and accelerate our ability to provide attractive investment products for all our investment clients,’ said Alex Jeffrey, CEO of Savills Investment Management.

Savills IM and Samsung Life will enter a Shareholders' Agreement which covers the working relationship between the parties. At 9:40am: [LON:SVS] Savills PLC share price was 0p at 967p

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