Real estate consultancy firms Jones Lang LaSalle and King Sturge will merge their operations across UK and continental Europe, the companies have announced. In Romania, as on other markets, the merged entity will continue to work under the Jones Lang LaSalle brand. Under the terms of the deal, Jones Lang LaSalle will pay USD 319 million to the partners of King Sturge, part of the sum in cash at closing and the balance paid out in cash over five years.

The merged entity will be lead by Troy Javaher, the managing director of Jones Lang LaSalle, who is also the head of the capital markets division.  In Romania, Kind Sturge is led by Radu Boitan, director of the Bucharest office.

All 43 King Sturge offices and businesses across Europe, including 24 in the UK, will become part of Jones Lang LaSalle and will operate under the Jones Lang LaSalle brand. Integration of business lines and teams, and the full rebranding of all business activities, will begin immediately. It has not been announced yet who will lead the new entity in Romania and how many people will continue working with the merged entity.

The merged business operates in 70 EMEA markets across 30 countries employing 5,300 people.

editor@romania-insider.com