CBRE to buy bulk of ING's property business

Deal for $940m gives US real-estate company entree Into Europe at a purchase price seen on the low end

CB Richard Ellis Group has agreed to purchase the lion's share of the real-estate-investment-management business of Dutch financial group ING Groep, creating the world's largest property-fund manager.

The all-cash transaction, valued at $940m, will combine CBRE's global investment-management business with most of ING REIM's investment-management business in Europe and Asia.

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