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Slide #30. CBRE Group, Inc. — Norland Managed Services Ltd
CBRE Group, Inc. (CBG)
Norland Managed Services Ltd
CBRE Group, Inc. announced that it has entered into a definitive agreement to acquire Norland Managed Services Ltd (Norland), a leading provider of commercial building technical engineering services in the United Kingdom (UK) and Ireland, for 250 million (approximately $400 million) plus up to 50 million (approximately $80 million) of deferred contingent consideration as well as a payment for excess working capital and related items. The purchase price is payable in cash, except for 5.6 million (approximately $9 million) that is payable in CBRE common stock to Norland senior management. The acquisition will add market-leading capabilities for CBRE to self-perform building technical engineering services in its UK and European Global Corporate Services (GCS) business, providing its client base with fully-integrated outsourcing services in the region.
CBRE Group is a holding company. Through its subsidiaries, Co. is a commercial real estate services and investment firm. Co. has five segments: The Americas, which consists of operations located in the U.S., Canada and Latin America, Europe, Middle East and Africa, which mainly consists of operations in Europe; Asia Pacific, which includes operations in Asia, Australia and New Zealand; Global Investment Management business, which consists of investment management operations in North America, Europe and Asia Pacific; and Development Services business, which consists of real estate development and investment activities primarily in the U.S.
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Buy (3.44 out of 4)
(ranked lower than approx. 97% of all stocks covered)
Based on Zacks ABR data;
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