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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Savills loses 7% on talk of stake sale

Savills, the upmarket estate agency, is coming under pressure on talk of a stake sale.

Traders said Credit Suisse was placing up to 7.8m shares - around 5.8% of the business - at up to 545p each. The disposal was believed to be on behalf of Oaktree Capital Group. Matt Basi, head of UK sales trading at CMC Markets, said the stake sale explained the current weakness in Savills' shares, which are down more than 7% at 532.5p.

Earlier this month the company reported a 21% rise in 2012 profits, lifted by a good performance in Asia and strong demand for plush offices and houses in London.

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