8-KMaterial AgreementsExhibits & Filings

CBRE GROUP, INC. 8-K Report, Material Agreement (Apr 3, 2015)

Filed April 3, 2015For Securities:CBRE

Summary

CBRE Group, Inc. (CBRE) announced a significant strategic acquisition through its subsidiary, CBRE, Inc., entering into a Stock and Asset Purchase Agreement with Johnson Controls, Inc. (JCI) to acquire JCI's Global WorkPlace Solutions (GWS) business. This move positions CBRE to significantly expand its Integrated Facilities Management capabilities, particularly for large commercial real estate occupiers worldwide. The acquisition comes with a substantial price tag of $1.475 billion in cash, subject to customary adjustments. The transaction is anticipated to close by the end of the third or early fourth quarter of 2015, pending regulatory approvals and other standard closing conditions. This acquisition represents a key growth initiative for CBRE, aiming to bolster its service offerings and market presence in the global facilities management sector.

Key Highlights

  • 1CBRE Group, Inc. is acquiring Johnson Controls' Global WorkPlace Solutions (GWS) business.
  • 2The acquisition price is $1.475 billion in cash, with potential adjustments.
  • 3GWS is a leading provider of Integrated Facilities Management solutions.
  • 4The transaction is expected to enhance CBRE's global service offerings and market position.
  • 5Closing is anticipated in late Q3 or early Q4 2015, subject to regulatory and customary conditions.
  • 6The acquisition was made through CBRE's subsidiary, CBRE, Inc.

Frequently Asked Questions

This 8-K filing announces CBRE Group, Inc.'s entry into a material definitive agreement to acquire Johnson Controls' Global WorkPlace Solutions (GWS) business.

CBRE is paying $1.475 billion in cash for the GWS business, subject to customary adjustments for working capital and other items.

The transaction is expected to close in the late third quarter or early fourth quarter of 2015, contingent upon receiving customary regulatory approvals and satisfying other closing conditions.

The GWS business is described as a market-leading provider of Integrated Facilities Management solutions for major commercial real estate occupiers globally. CBRE is acquiring it to expand its own capabilities and market presence in this sector.