Colliers International Expands Operations in Belgium
(Thomson Reuters ONE) -
Adds Leading Asset and Property Management Firm
TORONTO, July 7, 2015 (GLOBE NEWSWIRE) -- Colliers International Group Inc.
(NASDAQ:CIGI) (TSX:CIG) announced today that it has acquired IDB Management
("IDB"), a leading asset and property management firm in Belgium. As part of the
transaction, IDB will be rebranded as Colliers International and the principals
will lead its asset and property management segment going forward. The terms of
the transaction were not disclosed.
"We have known the team at IDB for a long time. Their culture of
professionalism, integrity and focus on client excellence was a natural fit with
our own operations and we look forward to integrating them into the Colliers
family," said Pierre-Gilles Solvit, CEO of Colliers Belgium. "As we continue to
expand our service capability in Belgium, the addition of IDB's service
offerings complements our existing business and positions us well for future
growth."
"As we looked to take our business to the next level, it became clear that
Colliers was the best partner for our clients and people. Their enterprising
approach to client service aligns well with our own model of delivering flexible
and entrepreneurial services," said Renaud d'Argembeau, CEO of IDB. "We serve a
prestigious list of international institutional clients and now, as part of the
Colliers global platform, we will have the ability to expand client
relationships beyond Belgium to other global markets."
"The Benelux region remains an important market in Europe," said Chris McLernon,
CEO of the EMEA for Colliers International. "Strengthening our capability and
service offerings, particularly in the area of asset and property management, is
essential to our strategy of delivering customized asset and property management
services seamlessly to clients throughout Europe and the rest of the world," he
concluded.
About Colliers International Group
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is a global leader in
commercial real estate services with more than 16,300 professionals operating
from 502 offices in 67 countries. With an enterprising culture and significant
inside ownership, Colliers professionals provide a full range of services to
real estate occupiers, owners and investors worldwide. Services include
brokerage, global corporate solutions, investment sales and capital markets,
project management and workplace solutions, property and asset management,
consulting, valuation and appraisal services, and customized research and
thought leadership. Colliers International has been ranked among the top 100
outsourcing firms by the International Association of Outsourcing Professionals'
Global Outsourcing for 10 consecutive years, more than any other real estate
services firm.
For the latest news from Colliers International, visit Colliers.com or follow us
on Twitter ((at)ColliersIntl) and LinkedIn.
Advisory Regarding Forward-Looking Information
Information in this press release that is not a historical fact is "forward-
looking information". Words such as "plans", "intends", "outlook", "expects",
"anticipates", "estimates", "believes", "likely", "should", "could", "will",
"may" and similar expressions are intended to identify statements containing
forward-looking information. Forward-looking information in this press release
is based on current objectives, strategies, expectations and assumptions which
management considers appropriate and reasonable at the time. The forward-looking
information in this press release includes, but is not limited to, statements
with respect to the expected future attributes of Colliers.
By its nature, forward-looking information is subject to risks and uncertainties
which may be beyond the ability of Colliers to control or predict. The actual
results, performance or achievements of Colliers could differ materially from
those expressed or implied by forward-looking information. Factors that could
cause actual results, performance, achievements or events to differ from current
expectations include, among others, risks and uncertainties related to: the
operations and financial condition of Colliers as a separately traded public
company; business cycles, including general economic conditions in the countries
in which Colliers operates, which will, among other things, impact demand for
services and the cost of providing services; the ability of Colliers to
implement its business strategy, including its ability to acquire suitable
acquisition candidates on acceptable terms and successfully integrate newly
acquired businesses with its existing businesses; changes in or the failure to
comply with government regulations; changes in foreign exchange rates; increased
competition; credit of third parties; changes in interest rates; and the
availability of financing. Additional information on certain of these factors
and other risks and uncertainties that could cause actual results or events to
differ from current expectations can be found in Old FirstService's Annual
Information Form for the year ended December 31, 2014 under the heading "Risk
Factors" (which factors are adopted herein and a copy of which can be obtained
at www.sedar.com). Certain risks and uncertainties specific to the arrangement
transaction, Colliers and New FirstService are further described in the
Management Information Circular of Old FirstService dated March 16, 2015. Other
factors, risks and uncertainties not presently known to Colliers or that
Colliers currently believes are not material could also cause actual results or
events to differ materially from those expressed or implied by statements
containing forward-looking information.
Readers are cautioned not to place undue reliance on statements containing
forward-looking information that are included in this press release, which are
made as of the date of this press release, and not to use such information for
anything other than their intended purpose. Colliers disclaims any obligation or
intention to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as required by
applicable law.
CONTACT: GLOBAL CONTACT:
John B. Friedrichsen
Chief Financial Officer
(416) 960-9500
EMEA CONTACT:
Chris McLernon
CEO, Colliers International EMEA
44 20 7487 1651
BELGIUM CONTACT:
Lauriane Douchamps
Luna Agency
33 2 658 02 91
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Colliers International Group Inc. via GlobeNewswire
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