Affiliate Merger Integrates Operations in the West
TORONTO, Dec 16 (Bernama-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.”
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