CBRE acquires 60% ownership stake in Turner & Townsend in $1.3bn cash deal ...United Arab Emirates

CBRE Group and Turner & Townsend Holdings Limited have announced a definitive agreement whereby CBRE will acquire a 60% ownership interest in, and enter into a strategic partnership with, Turner & Townsend, the UK-based provider of program, project and cost management services. In a statement, it was revealed that CBRE will acquire a 60% stake for approximately $1.3 billion in cash, with 55% to be paid upon closing. The transaction preserves Turner & Townsend’s existing leadership team, heritage, operational independence, and partnership structure, which will hold the remaining 40% ownership interest. The transaction values Turner & Townsend at approximately $2.2 billion and is expected to b

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