Cbre to acquire majority interest in and form strategic partnership with turner & townsend

Dallas--(business wire)--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 will acquire a 60% stake for approximately £960 million ($1.3 billion) in cash, with 55% to be paid upon closing. the transaction preserves turner & towns
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