Pinsent Masons advises Turner & Townsend Holdings Ltd on sale of majority stake and strategic partnership with CBRE Group, Inc.
07 Sep 2021 | 09:25 am |
Multinational law firm Pinsent Masons has advised Turner & Townsend on the proposed £960 million sale of a 60% stake of its business to CBRE Group, Inc.
Longstanding client, Turner & Townsend is a global leader in programme, cost, and project management. The transaction will offer opportunities for growth for both companies and will preserve Turner & Townsend’s existing leadership team and partnership, which will hold the remaining 40% ownership interest. CBRE is a NYSE listed, Fortune 500 company with a market capitalisation of over $30 billion. The transaction values Turner & Townsend at £1.6 billion.
The Pinsent Masons team acting on the transaction was led by partners Andrew Black, Amie Norris and Andrew Senior and made up of colleagues across the United Kingdom, Europe and Australia.
The transaction is subject to regulatory approvals and other customary closing conditions. Closing is expected in the fourth quarter of this year.
Turner & Townsend provides programme management, cost consultancy, project management and advisory consulting services for clients in 46 countries. It operates across three business segments: Real Estate – serving investors and occupiers across all property types, including data centers and life-science properties; Infrastructure – notably, transportation, environmental and power generation projects, and Natural Resources –renewable energy, alternative fuels, liquified natural gas and other projects.
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