JLL completes US$2 bil acquisition of HFF

/ EdgeProp
July 3, 2019 2:42 PM SGT
Global real estate broker JLL has announced that it has completed its acquisition of Amercian real estate broker HFF. The equity transaction, worth about US$2 billion ($2.7 billion), was first announced in March this year.
“Increasing the scale of our capital markets business is one of the key priorities in our strategic vision to drive long-term sustainable and profitable growth. The combination with HFF provides a unique opportunity to accelerate growth and establish JLL as a leading capital markets intermediary,” says Christian Ulbrich, global CEO of JLL.
JLL shareholders will now own about 87% of the shares in the combined company, while HFF shareholders are expected to hold about 13%.