Acquisition adds dominant player in Sweden and Norway

TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Colliers (NASDAQ and TSX: CIGI), a leader in diversified professional services and investment management, announced today that it has agreed to acquire a controlling interest in Pangea Property Partners (” Pangea”) to purchase. , a leading capital markets advisor in Sweden and Norway. Pangea will merge with Colliers’ existing captive operations in Sweden to become the new captive operation in Norway and rebrand as Colliers. Pangea’s partners, along with Colliers Sweden’s existing leadership team, will retain a significant equity interest in the combined company under Colliers’ unique partnership model. The terms of the transaction were not disclosed.

Founded in 2009, Pangea brings an exceptional leadership team and world-class expertise from its offices in Oslo, Norway and Stockholm, Sweden. The combined operations of Colliers Sweden and Norway will employ more than 80 professionals and provide our clients with a full range of services including capital markets advice, debt advice, project finance, leasing and sales broking, valuations and project management.

“Building on our world-class operations in Denmark and Finland, this merger adds market leadership in Norway and Sweden and together establishes Colliers as the dominant player across the Nordic region,” said Davoud Amel-Azizpour, CEO of Colliers | EMEA. “We are excited about our new partnership and the opportunity to leverage our world-class platform in this important and fast-growing region.”

“Pangea has grown strongly in Scandinavia and internationally over many years. The combination of Pangea and Colliers fits perfectly with our strategy and ambition to become the leading real estate advisor in Scandinavia. It is important to us to work with an organization that shares our corporate philosophy and culture,” said Bård Bjølgerud, founder of…