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Sunday, 25 February

Acquisition Already Paying EMEA Dividends

Pfizer, the international pharmaceuticals conglomerate, has signed a new agreement with CBRE that adds 21 countries as well as R&D facilities to CBRE’s facilities management services contract across Europe, the Middle East and Africa.

The news comes just weeks after CBRE concluded a deal to buy Norland Managed Services Ltd. Although announced sooner, the acquisition was not closed until 23 December - with the statement that this: 'Enables CBRE to offer fully integrated outsourcing services in EMEA and strong capabilities in critical environment facilities management'. Norland is now part of CBRE’s Global Corporate Services (GCS) business.

CBRE manages a portfolio for Pfizer in 55 countries in the EMEA comprising 2.9 million sq ft.

CBRE is said to be the world's largest commercial property consultant working with occupiers, investors and developers of office, industrial and logistic, residential, retail and hotel property. The firm provides strategic advice and execution for property sales and leasing; tenant representation, corporate services; facilities, property and project management; appraisal and valuation; development services; investment management; energy and sustainability services; and research and consulting.

The company employs 6,950 and has 141 offices in 40 countries across EMEA. It has a total transaction value $44.6 billion and has 0.6 billion sq.ft of property and corporate facilities under management - which equates to valuation and advisory assignment for 61,775 properties. Globally, CBRE has over 300 offices and employs over 37,000 people.

Pictured: The former Pfizer site in Sandwich, UK

Article written by Brian Shillibeer

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