British firm buys controlling stake in Engel & Völkers

Engels is the biggest estate agency on the island

Biggest estate agency in Mallorca

Majorca Daily Bulletin reporterPalma10/08/2021 14:31

The British investment company Permira has bought a controlling stake in the biggest estate agency on Mallorca, Engel & Völkers, which operates in 30 countries and has a large number of offices across the island.

In the deal, the Völkers family and part of the management will retain nearly 40 percent of the shares.

The parties have agreed not to disclose the purchase price. In financial circles, it has been said that the valuation of the company is almost 700 million euros, the majority stake of Permira would then be worth a good 400 million euros.