Colliers International Group (TSE:CIGI) has released an update.
Colliers International Group is set to acquire Englobe Corporation, a prominent Canadian engineering and environmental services firm, enhancing Colliers’ engineering capabilities in Canada. The deal, valued at approximately US$475 million for a significant controlling interest, will integrate Englobe’s expertise and 2,800 professionals into Colliers’ operations, with the transition expected to close in the third quarter of 2024. This strategic move is anticipated to bolster Colliers’ recurring earnings and solidify its position in the engineering services market, promising growth and expanded services for clients.
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