The deal comes nearly two decades since the struggling firm was rescued from near-collapse.
One of the world’s oldest estate agents, Chestertons UK, has been sold to a European technology giant in the latest property market takeover.Mercantile Group, which has owned Chestertons since 2005, announced the sale to Campions Group Limited, a subsidiary of real estate services and technology provider Emeria.
Chestertons, which specialises in London prime property, was bought out of receivership by Mercantile under businessman Salah Mussa when the firm came into financial difficulty. Mercantile chairman Mr Mussa said: “In the 19 years since acquiring Chestertons, I have watched the brand grow substantially to resume its place amongst the leading names in residential property.
He said the takeover under Emeria will help further accelerate Chestertons’ growth, from the 30 branches it currently has in the UK.
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