A merger of the two biggest consulting firms operating within the European real properties market is knocking at the door. Jones Lang LaSalle has announced a merger with King Sturge, an international firm consulting operating on the real property market. The merger will secure position of the leader in Europe, particularly in Great Britain. The finalization of the transaction will take place on May 31 2011. As a part of the merger, Jones Lang Lasalle is going to pay King Sturge’s shareholders 98 m pounds in cash.
43 offices in Europe belonging to King Sturge are going to be part of Jones Lang LaSalle, and will function under this brand name. The strategic and cultural compatibility of Jones Lang LaSalle as well as King Sturge makes this merger a logic and very attractive proposition for both firms – said Christian Ulbrich, a CEO of Jones Lang LaSalle in Europe and Asia Minor region.
The merger’s end effect will result in creation of a company which will be active on 70 markets in the region of Europe and Asia Minor, in 30 countries, employing 5 300 people, providing thorough services on the international real properties market, which are used by investors, owners and tenants. Two thousand and seven hundred people, in 34 offices, will be employed in Great Britain.