Colliers International Group Expands in Northern California and Nevada
(Thomson Reuters ONE) -
Affiliate Merger Integrates Operations in the West
TORONTO, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Leading global commercial real estate
services firm Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI)
announced today it has signed an Agreement and Plan of Merger (the "Merger
Agreement") with Colliers Parrish International Inc. ("CPI"), the largest
independently owned affiliate of Colliers in the U.S. From offices in San Jose,
Oakland, Stockton, Pleasanton, Redwood City, Fairfield, Mountain View, Gilroy
and Walnut Creek, California, as well as Las Vegas and Reno, Nevada, CPI's 400
professionals provide a comprehensive suite of services including investment
sales, lease brokerage, capital markets, valuation and advisory and property
management to local, regional, national and international clients. The
transaction is subject to shareholder approval and other customary conditions.
Terms of the transaction were not disclosed.
"Integrating CPI with our existing operations in Northern California
significantly increases our scale and coverage, allowing us to seamlessly and
effectively serve our clients in this important region," said Martin Pupil,
Colliers International President, U.S. Brokerage. "As well, adding another
market leader in Nevada, extends our best in class capabilities into this
important adjacent market."
"We have been part of the Colliers organization for more than two decades and
share a commitment to service excellence," said Andre Walewski, CEO of CPI. "Our
goal has always been to provide the most innovative and enterprising commercial
real estate advisory services to our clients. By integrating our operations in
Northern California and Nevada, and leveraging the size, capital and established
infrastructure of the Colliers global platform, we will accelerate the success
of our clients and create more opportunities for our people. We are all very
excited about this development and our future as an integral part of Colliers
International Group."
"This acquisition is consistent with our strategy to acquire market leaders
throughout the U.S. and follows five other acquisitions completed over the past
year," said Dylan Taylor, President and COO Colliers International. "These
acquisitions further integrate and strengthen our service platform, reinforcing
our business operations in the West and nationally as the firm of choice for
innovative and successful companies, and commercial real estate professionals
seeking an enterprising culture."
About Colliers International
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry
leading global real estate services company with more than 16,000 skilled
professionals operating in 66 countries. With an enterprising culture and
significant employee ownership, Colliers professionals provide a full range of
services to real estate occupiers, owners and investors worldwide. Services
include strategic advice and execution for property sales, leasing and finance;
global corporate solutions; property, facility and project management; workplace
solutions; appraisal, valuation and tax consulting; customized research; and
thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful
and innovative advice that help clients accelerate their success. Colliers has
been ranked among the top 100 outsourcing firms by the International Association
of Outsourcing Professionals' Global Outsourcing for 11 consecutive years, more
than any other real estate services firm.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter:
(at)Colliers and LinkedIn.
Advisory Regarding Forward-Looking Information
Certain information included in this news release is forward-looking, within the
meaning of applicable securities laws. Much of this information can be
identified by words such as "believe", "expects", "expected", "will", "intends",
"projects", "anticipates", "estimates", "continues" or similar expressions
suggesting future outcomes or events. Colliers believes the expectations
reflected in such forward-looking statements are reasonable but no assurance can
be given that these expectations will prove to be correct and such forward-
looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with: (i) general economic and
business conditions, which will, among other things, impact demand for Colliers'
services and the cost of providing services; (ii) the ability of Colliers to
implement its business strategy, including Colliers' ability to identify and
acquire suitable acquisition candidates on acceptable terms and successfully
integrate newly acquired businesses with its existing businesses; (iii) changes
in or the failure to comply with government regulations; and (iv) such factors
as are identified in the Annual Information Form of Colliers for the year ended
December 31, 2015 under the heading "Risk Factors" (which factors are adopted
herein and a copy of which can be obtained at www.sedar.com). Forward-looking
statements contained in this news release are made as of the date hereof and are
subject to change. All forward-looking statements in this news release are
qualified by these cautionary statements. Except as required by applicable law,
Colliers undertakes no obligation to publicly update or revise any forward-
looking statement, whether as a result of new information, future events or
otherwise.
COLLIERS CONTACTS:
John Friedrichsen
Chief Financial Officer | Global
(416) 960-9500
Martin Pupil,
President | U.S. Brokerage
(949) 331-3115
Andre Walewski
Colliers Parrish International | CEO
(408) 282-3837
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Colliers International Group Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.12.2016 - 23:32 Uhr
Sprache: Deutsch
News-ID 513337
Anzahl Zeichen: 7251
contact information:
Town:
Seattle, WA
Kategorie:
Business News
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