CBRE Group, Inc. Acquires Convergences-CVL
July 13 2017 - 08:00AM
Business Wire
Acquisition bolsters CBRE’s services for the
retail sector in France
CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired
the business of Convergences-CVL, a leading, full service retail
property consultancy based in Paris, France.
Founded in 2010, Convergences-CVL is led by Jérôme Le Grelle and
includes a team of 27 professionals based in Paris.
Convergences-CVL provides a full range of retail property services
from strategic planning to transaction execution and property
management for a broad range of clients in France including
developers, retailers and public sector entities.
This acquisition enhances CBRE’s position in the retail sector
in France where it already holds a leading position in the office
and industrial leasing sectors.
Jérôme Le Grelle will assume the role of Head of Retail for CBRE
in France. Prior to founding Convergences-CVL, Mr. Le Grelle held a
number of high profile positions in the retail sector including
Head of Real Estate at LVMH, President of the French subsidiary of
Rodamco Europe and COO of Carrefour Property.
Martin Samworth, CEO of CBRE, EMEA said: “This acquisition adds
market-leading expertise in retail consultancy and development
advisory capabilities to our strength in retail transactions and
will significantly enhance our ability to provide a full range of
world-class retail services to our domestic and international
clients in France.”
Jérôme Le Grelle, CEO of Convergences-CVL, said: “CBRE’s global
footprint and broad service offering is a critical factor which
will enable us to deliver more advantages to our clients and we
look forward to enhancing our position as the premier retail team
in France.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world’s largest
commercial real estate services and investment firm (based on 2016
revenue). The company has more than 75,000 employees (excluding
affiliates), and serves real estate investors and occupiers through
approximately 450 offices (excluding affiliates) worldwide. CBRE
offers a broad range of integrated services, including facilities,
transaction and project management; property management; investment
management; appraisal and valuation; property leasing; strategic
consulting; property sales; mortgage services and development
services. Please visit our website at www.cbre.com.
Forward-Looking Statements
Certain of the statements in this release regarding the
acquisition of Convergences-CVL that do not concern purely
historical data are forward-looking statements within the meaning
of the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements are made
based on our management’s expectations and beliefs concerning
future events affecting us and are subject to uncertainties and
factors relating to our operations and business environment, all of
which are difficult to predict and many of which are beyond our
control. Accordingly, actual performance, results and events may
vary materially from those indicated in forward-looking statements,
and you should not rely on forward-looking statements as
predictions of future performance, results or events. Numerous
factors could cause actual future performance, results and events
to differ materially from those indicated in forward-looking
statements, including, but not limited to, our ability to
successfully integrate Convergences-CVL with our existing retail
operations in France and in EMEA, as well as other risks and
uncertainties discussed in our filings with the U.S. Securities and
Exchange Commission (SEC). Any forward-looking statements speak
only as of the date of this release. We assume no obligation to
update forward-looking statements to reflect actual results,
changes in assumptions or changes in other factors affecting
forward-looking information, except to the extent required by
applicable securities laws. If we do update one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements. For additional information concerning
factors that may cause actual results to differ from those
anticipated in the forward-looking statements and other risks and
uncertainties to our business in general, please refer to our SEC
filings, including our Form 10-K for the fiscal year ended December
31, 2016 and our Form 10-Q for the quarter ended March 31, 2017.
Such filings are available publicly and may be obtained from our
website at www.cbre.com or upon request from the CBRE Investor
Relations Department at investorrelations@cbre.com.
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CBRE Group, Inc.Helen BasilCorporate Communications44 207 182
2145orRobert McGrathCorporate Communications212.984.8267
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