- Colliers (CIGI) has agreed to acquire a controlling interest in Pangea Property Partners, a leading capital markets advisor in Sweden and Norway
- Pangea will re-brand as Colliers
- The combined Colliers Sweden and Norway operations will offer a full suite of services including capital markets advisory, debt advisory, project finance and project management
- Colliers is a leading professional services and investment management company with $81 billion of assets under management
- Colliers International Group Inc. (CIGI) opened trading at C$149.87
Colliers (CIGI) has agreed to acquire a controlling interest in Pangea Property Partners, a leading capital markets advisor in Sweden and Norway.
Pangea will merge with Colliers’ existing company-owned operations in Sweden, become the new company-owned operation in Norway, and re-brand as Colliers.
Pangea’s partners, together with the existing leadership team of Colliers Sweden, will retain a significant equity stake in the combined business under Colliers’ unique partnership model.
The combined Colliers Sweden and Norway operations will have more than 80 professionals and offer a full suite of services including capital markets advisory, debt advisory, project finance, leasing and sales brokerage, valuations, and project management.
Davoud Amel-Azizpour, CEO of Colliers | EMEA, commented on the news.
“Building on our top tier operations in Denmark and Finland, this merger adds market leadership in Norway and Sweden and together establishes Colliers as the dominant player in the entire Nordic region. We are excited about our new partnership and the opportunity to leverage our best in class platform in this important and rapidly growing region.”
“Pangea has grown significantly over many years in the Nordics as well as internationally. The combination of Pangea and Colliers is a perfect match with our strategy and ambition to become the leading property advisor in the Nordics. It is important to us that we partner with an organization that shares our business philosophy and culture,” said Bård Bjølgerud, Founding Partner and CEO of Pangea, who will assume the role of CEO, Nordics, Colliers.
Colliers is a leading professional services and investment management company with annual revenues of $4.5 billion and $81 billion of assets under management.
Colliers International Group Inc. (CIGI) opened trading at C$149.87.
