BNP Paribas in takeover talks with estate agent Strutt and Parker
March 16, 2017
It is being reported on various media outlets that BNP Paribas France’s largest bank is in takeover talks with upmarket estate agent Strutt & Parker.
It would appear from reports that discussions over a deal have been ongoing for a number of months, the French bank has taken a keen interest in buying the estate agent’s commercial property arm, but they may join forces with another group to take on the residential estate agency business.
Strutt and Parker is one of Britain’s oldest independent property agents set up in 1885, specialising in selling high-end homes in London and the country, including the managing of farmland.
The French bank BNP Paribas employs around 7,500 people in the UK, they recorded revenues of 43.4 billion euro (£37.7 billion) for the last financial year.
Both Strutt & Parker and BNP Paribas have reportedly declined to comment.
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