Colliers completes acquisition of Pangea

Rhea-AI Summary

Colliers (CIGI) has successfully acquired a controlling stake in Pangea Property Partners, a prominent capital markets advisor in Sweden and Norway. This strategic transaction aims to enhance Colliers' market dominance in the Nordic region, merging Pangea with existing operations in Sweden. The acquisition strengthens Colliers' footprint in Northern Europe, complementing its established presence in Denmark and Finland. With this move, Colliers is poised to leverage Pangea's expertise to drive growth and client success.

Positive

• Acquisition of Pangea Property Partners enhances market position in the Nordic region.
• Strategic merger expected to provide growth opportunities and revenue synergies.
• Strengthens Colliers' existing operations in Sweden and expands influence in Norway.

Negative

• None.

TORONTO, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) has completed its previously announced acquisition of a controlling interest in Pangea Property Partners (“Pangea”), a leading capital markets advisor in Sweden and Norway. Pangea becomes Colliers’ new company-owned operation in Norway and will merge with Colliers’ existing company-owned operations in Sweden. This transaction firmly positions Colliers as the dominant player in the Nordic region, building on our top-tier operations in Denmark and Finland.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 63 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.6 billion and $92 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn. 

Colliers Contacts:

Christian Mayer
Chief Financial Officer | Global
(416) 960-9500 

Davoud Amel-Azizpour
Chief Executive Officer | EMEA
(44) 20 7487 7020

FAQ

What is the significance of Colliers acquiring Pangea Property Partners?

The acquisition enhances Colliers' dominance in the Nordic region, merging capabilities with existing operations in Sweden.

How will the acquisition impact Colliers' market strategy?

The integration of Pangea is expected to provide growth opportunities and increased market share in Northern Europe.

What is the financial outlook for Colliers after acquiring Pangea?

This strategic acquisition aims to drive revenue growth and improve Colliers' operational efficiency in the Nordic markets.

When was the acquisition of Pangea Property Partners completed?

The acquisition was completed on December 2, 2022.

What role does Pangea Property Partners play in the acquisition?

Pangea serves as a leading capital markets advisor, strengthening Colliers' offerings in Sweden and Norway.