TPG Capital Nears Deal To Buy Cushman & Wakefield For About $2 Bln : Report

(RTTNews) - TPG Capital is close to a deal to buy commercial property brokerage Cushman & Wakefield Inc. for about $2 billion and combine it with DTZ Group, Bloomberg reported citing people familiar with the matter.

TPG is in advanced discussions with Cushman and its owners, Exor SpA (EXOSF.PK), the Agnelli family's Italian holding company. An agreement could be announced as soon as next week, the report said.

The report cautioned that discussions were continuing and there was no certainty of a deal being completed.

Cushman was put up for sale by its majority owner, Exor. It hired Goldman Sachs Group Inc. and Morgan Stanley to find a buyer, people with knowledge of the plan said in February. TPG has been competing against a range of other private-equity and strategic bidders, the report said.