CBRE Group To Combine Project Management Business With Turner & Townsend; CBRE Will Own 70% Of Combined Entity, Turner & Townsend Partners To Hold 30%; Transaction Expected To Enhance Synergies And Generate $0.15 Incremental Core EPS By End Of 2027; Incremental Investment Cost Estimated At $70M
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CBRE Group is set to combine its project management business with Turner & Townsend. CBRE will own 70% of the new entity, while Turner & Townsend partners will hold 30%. The transaction is expected to enhance synergies and generate an additional $0.15 in core EPS by the end of 2027, with an incremental investment cost estimated at $70 million.
June 24, 2024 | 12:07 pm
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CBRE Group is merging its project management business with Turner & Townsend, owning 70% of the combined entity. This move is expected to enhance synergies and generate an additional $0.15 in core EPS by the end of 2027, with an incremental investment cost of $70 million.
The merger is likely to create significant synergies and improve CBRE's earnings per share by $0.15 by 2027. The investment cost of $70 million is relatively modest compared to the potential earnings boost, making this a positive development for CBRE's stock price in the short term.
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