Savills (LSE:SVS) confirmed the completion of its acquisition of Eastdil Secured Holdings, on 31 July, finalising a deal first announced on 12 March.
Eastdil Secured is a global real estate investment bank, and Savills said no material changes had affected the terms set out in its original announcement.
The property services group funded the deal through a combination of debt and 27.66m new shares issued to Eastdil Secured's equity holders, who are subject to lock-up provisions restricting when they can sell.
Those consideration shares represent approximately 16% of Savills' enlarged share capital.
Savills will provide further detail on the transaction alongside its half-year results for the six months ended 30 June, due on 13 August.
News Intelligence what this means for the company
Savills closed its $1bn-plus acquisition of Eastdil Secured on 31 July, funding it through debt and 27.66m new shares representing 16% of the enlarged group's equity. The deal proceeded on the terms announced in March with no material changes, and the company will detail the transaction's financial impact when it reports half-year results on 13 August.
The acquisition expands Savills' US investment banking footprint and diversifies revenue into real estate capital markets advisory, but the 16% equity dilution and debt funding materially alter the capital structure. Full financial impact—debt levels, earnings accretion, and integration costs—remains unknown until the 13 August results.
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