After two years of speculation, French agent Bourdais is poised to sell out to US real estate giant Insignia Financial Group. Heads of terms have been agreed between the Paris-based company and Insignia, and a deal is expected to be announced within weeks.
Insignia owns Richard Ellis St Quintin in the UK, Cagisa in Italy, and Insignia Germany. It has been stalking a major French player since it arrived in Europe at the end of 1997, and has been in protracted discussions with Jean-Claude Bourdais, the majority shareholder in the company.
Meanwhile in the UK, Richard Ellis St Quintin is to be rebranded Insignia Richard Ellis later this month.
