Strengthens
Colliers’ Asset Management and Advisory Operations in Europe
TORONTO and PARIS, Oct 4 (Bernama-GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) announced today the acquisition of ICADE Asset Management and ICADE Conseil (“ICADE”), a leading asset management and investor advisory services platform in France with more than €2 billion of assets under management. The acquisition will enhance Colliers’ existing asset management business and advisory solutions business for real estate investors and developers in Europe. Asset management fees generated in 2015 were approximately €10 million. The newly acquired entities will be re-branded as Colliers International – Investment & Asset Management and current Managing Director, Romain Frémont will become Managing Director of Colliers International Investment & Asset Management France. The financial details of the transaction were not disclosed.
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