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or Name
USA
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Colliers International Group Inc
Symbol CIGI
Shares Issued 37,869,092
Close 2018-07-09 C$ 104.41
Market Cap C$ 3,953,911,896
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Colliers sells Finland residential property operation

2018-07-09 10:13 ET - News Release

Mr. Chris McLernon reports

COLLIERS INTERNATIONAL STREAMLINES ITS MARKET LEADING NORDIC REAL ESTATE MANAGEMENT SERVICES PLATFORM

Colliers International Group Inc. has sold its residential property management operation servicing apartment housing companies (which manage over 30,000 apartments throughout Finland). This transaction allows Colliers Finland to focus entirely on its core business of providing real estate management services to owners and users of commercial real estate. Terms of the transaction were not disclosed.

Founded in 1980 (and acquired by Colliers International earlier this year), Colliers Finland is a market leader with a highly experienced management team. Colliers Finland provides commercial real estate management services for office, industrial and retail properties, as well as retail and shopping centre development and consultancy.

"The divestiture of Finland AHC to a well-respected Nordic player strengthens and focuses our Nordic platform, aligning with our growth strategy in the region," said Chris McLernon, chief executive officer of Colliers International (EMEA). "The Colliers Finland team continue to outperform our expectations and thrive in Colliers's entrepreneurial environment."

"We have gained significant momentum as part of Colliers and this transaction allows us to provide an even greater focus on our portfolio of commercial real estate assets comprising more than eight million square metres (86 million square feet), as well as continuing to provide advisory services to commercial real estate clients, helping them accelerate their success," said Sirpa Ojala, chief executive officer of Colliers International (Finland).

About Colliers International Group

Colliers International Group is an industry-leading real estate services company with a global brand operating in 69 countries and a work force of more than 12,000 skilled professionals serving clients in the world's most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3-billion ($2.7-billion including affiliates).

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