The news is revealed by El Confidencial, and confirmed by Savills, according to which, with this acquisition, Savills has multiplied its size in Spain seven-fold, increasing its workforce to 500 professionals.

The same source states that this will be the second most important international purchase in the history of the British company, following its acquisition of Studley in the USA in 2014.

The transaction shall be completed on 30 November, once all of the standard regulatory conditions have been fulfilled. 

Initially, the companies will operate in Spain under the brand Savills Aguirre Newman, notes the newspaper Expansión. The Chairmen of the consultant, Santiago Aguirre and Stephen Newman, and the Chairman of Savills España, Rafael Merry del Val, will be on the Board of Directors of the new company.  Santiago Aguirre will be the CEO, whilst Stephen Newman and Rafael Merry del Val will occupy the two executive co-vice-president places. 

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