CBRE To Acquire Majority Interest in and Form Strategic Partnership With Turner & Townsend
CBRE Group, Inc. (NYSE:CBRE) and Turner & Townsend Holdings Limited today announced a definitive agreement whereby CBRE will acquire a 60% ownership interest in, and enter into a strategic partnership with Turner & Townsend, a United Kingdom-based global leader in program, project and cost management.
- CBRE Group, Inc. (NYSE:CBRE) and Turner & Townsend Holdings Limited today announced a definitive agreement whereby CBRE will acquire a 60% ownership interest in, and enter into a strategic partnership with Turner & Townsend, a United Kingdom-based global leader in program, project and cost management.
- The transaction preserves Turner & Townsends existing leadership team, heritage, operational independence and partnership structure, which will hold the remaining 40% ownership interest.
- Turner & Townsend provides program management, cost consultancy, project management and advisory consulting services for clients in 46 countries.
- Vincent Clancy, chairman and chief executive officer of Turner & Townsend, said: The combined partnership of CBRE and Turner & Townsend will create the premier global provider of program, project and cost management from day one.