International. The real estate companies DTZ and Cushman & Wakefield announced the signing of a two-billion-dollar deal that will allow the merger of the two companies. The new firm, which will maintain the Cushman & Wakefield brand, will start operating from the end of this year and is expected to generate revenues of more than five billion dollars, with the management of more than four billion square feet in properties worldwide.
Brett White, who will assume the role of president and chief executive officer of the company following the merger, explained that "DTZ is excited to merge under the prominent Cushman & Wakefield brand. Companies have very complementary skills and reach different geographies."
Edward C. Forst, current president and chief executive officer of Cushman & Wakefield, said, "The combined company will truly represent the best our industry has to offer, with a greater ability to help customers achieve their goals."
