Samsung Life reached an agreement with Savills Investment Management, Savill’s investment branch, on which it will invest 1 billion dollars, according to a note issued by the two companies.
According to the agreement reached last week, fund Samsung Life agreed to purchase 25% of the shares from Savills Management for 64 million pounds.
The operation
On May 27, Samsung Life’s board of directors approved the purchase of the share which will make it Savills IM’s second largest shareholder. The remaining 75% will remain the hands of the real estate mother company.
Samsung will retain an option to purchase an additional 10% share of Savills in 2025. “It will depend on the progress of its capital compromised with British asset manager” stated Samsung in a release.
Once the agreement is finalised, Samsung Life will direct a total 1 billion dollars to Savills IM in the next four years, as part of na effort to diversify its portfolio abroad and improve its profits in mid and long-term.
Thus, it will co-invest in debt and equity operations in Europe and Asia, besides aiding Savills Investment Management to capture additional investments in South Korea and the Asia-Pacific region.
