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31 May 2012
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20 June 2012
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Savills to buy out Cordea Savills fund manager partners
International realtor Savills is to buy out its partners in the funds manager Cordea Savills, paying £15.4m for the 40% that it does not own from 16 private individuals. It then intends to simplify the capital structure to be able to deploy capital more effectively to support growth of the business. The takeover involves B members in the capital, three of these - John Partridge, Justin O'Connor and William Hackney - being on Cordea Savills members committee, the equivalent of a board of directors, and jointly holding 17.8% of the voting rights.(See upcoming PIE Editions for full story)