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What is an investment trust and why would you want to put your savings into one? Do the crises in Argentina and Turkey spell danger for emerging markets as the strong dollar stings? The groups are believed to have been in discussions since January over a possible deal, which would create one of the country’s biggest estate agencies, with a 54-strong network of offices and more than 900 staff. The estate agencies said talks were ‘proceeding well’ and further announcements would be made soon. 25m, although neither group has disclosed financial details of the talks.
Parker employs 650 staff across 28 offices, while Lane Fox has a 250-strong workforce and 26 offices. Both are largely focused on central and southern England, but say that there is little overlap of offices. Parker’s and Lane Fox’s estate agency businesses will significantly strengthen the combined group’s ability to deliver for its clients and to do so across a much enlarged geographical area. The increased scale of the business will provide a stronger platform for further growth in increasingly competitive marketplace. News of the talks come at time of heightened merger and acquisition activity in the estate agency sector.
05bn, followed just weeks later by the sale of Foxtons to private equity firm BC Partners for an undisclosed sum. Lane Fox was founded in 1967 by Jimmy Lane Fox – grandfather of lastminute. Martha Lane Fox – although the Lane Fox family are no longer involved in the business and do not own shares in the company. Parker, headed by senior partner Anthony Cane, was launched more than 120 years ago.