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CBRE GROUP, INC. 8-K Report, Regulation FD Disclosure (Feb 15, 2011)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed February 15, 2011
Period End
February 15, 2011
Security
CBRE
In the record · 2016–202610-K1110-Q328-K149

CBRE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed February 15, 2011. Cited figures are marked; the original filing is the authoritative source.

This Form 8-K filing by CB Richard Ellis Group, Inc. (CBRE) on February 15, 2011, announces a significant strategic acquisition.

The company has entered into definitive agreements to acquire the majority of ING Group N.V.'s real estate investment management business. This includes substantial operations in Europe and Asia, along with its U.S.-based global real estate listed securities business, Clarion Real Estate Securities (CRES). This move represents a substantial expansion of CBRE's global reach and investment management capabilities.

The total acquisition cost is approximately $940 milliona in cash, with an additional estimated $150 million in pre-tax transaction costs related to financing, integration, and employee retention. The transaction is expected to close in the latter half of 2011 and is subject to various approvals. Investors should note that ING's U.S.-based private market real estate investment management business is not part of this acquisition.

02—Key points

Key Highlights

  1. CBRE is acquiring the majority of ING Group's real estate investment management business for approximately $940 million in cash.
  2. The acquisition includes ING's European and Asian real estate investment management operations and its U.S.-based listed securities business, Clarion Real Estate Securities (CRES).
  3. ING's U.S.-based private market real estate investment management business is excluded from the transaction.
  4. CBRE will also acquire approximately $55 million of CRES co-investments and potential interests in other ING REIM funds.
  5. Estimated pre-tax transaction costs, including financing and integration expenses, are approximately $150 million.
  6. The deal is anticipated to close in the second half of 2011, pending regulatory and stakeholder approvals.
  7. The company provided a press release and an investor presentation as exhibits to this filing.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    This 8-K filing announces CB Richard Ellis Group, Inc.'s definitive agreement to acquire the majority of ING Group's real estate investment management business, a significant strategic move to expand its global presence and investment management services.

  2. What is the financial impact of this acquisition on CBRE?

    CBRE is acquiring the ING business for approximately $940 million in cash. Additionally, they anticipate incurring about $150 million in pre-tax transaction costs for financing, integration, and retention. The company also acquired approximately $55 million in co-investments from CRES.

  3. What parts of ING's business is CBRE acquiring, and what is being excluded?

    CBRE is acquiring substantially all of ING Real Estate Investment Management (ING REIM) operations in Europe and Asia, and its U.S.-based global real estate listed securities business, Clarion Real Estate Securities (CRES). ING's U.S.-based private market real estate investment management company is not included in this acquisition.

  4. When is the acquisition expected to be completed, and what are the next steps?

    The acquisition is expected to close in the second half of 2011. It is subject to approval by various stakeholders, including regulatory agencies in the U.S., Europe, and Asia.

04—Continue

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