CBRE Group, Inc. Announces Stock Repurchase Program
27 October 2016 - 9:55PM
Business Wire
CBRE Group, Inc. (NYSE:CBG) today announced that its Board of
Directors has authorized the company to repurchase up to an
aggregate of $250 million of its shares of Class A common stock
over three years.
The repurchase program is expected to be executed through open
market transactions, privately negotiated transactions, or in such
other manner as determined by the company, including through plans
complying with Rule 10b5-1 under the Securities Exchange Act of
1934, as amended. The timing of the repurchases and the actual
amount repurchased will depend on a variety of factors, including
the market price of the company’s common stock, general market and
economic conditions and other factors. The stock repurchase program
may be extended, suspended or discontinued at any time without
notice.
“The strength of our balance sheet, considerable cash flow and
resiliency of our business gives us the flexibility to return
capital to shareholders while continuing to make long-term,
growth-oriented investments,” said Bob Sulentic, CBRE’s president
and chief executive officer.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world’s largest
commercial real estate services and investment firm (based on 2015
revenue). The company has more than 70,000 employees (excluding
affiliates), and serves real estate investors and occupiers through
more than 400 offices (excluding affiliates) worldwide. CBRE offers
a broad range of integrated services, including facilities,
transaction and project management; property management; investment
management; appraisal and valuation; property leasing; strategic
consulting; property sales; mortgage services and development
services. Please visit our website at www.cbre.com.
Note: This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995, including
statements regarding our stock repurchase plans. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors discussed in the company’s filings
with the Securities and Exchange Commission. Any forward-looking
statements speak only as of the date of this press release, and
except to the extent required by applicable securities laws, the
company expressly disclaims any obligation to update or revise any
of them to reflect actual results, any changes in expectations or
any change in events. If the company does update one or more
forward-looking statements, no inference should be drawn that it
will make additional updates with respect to those or other
forward-looking statements. For additional information concerning
risks, uncertainties and other factors that may cause actual
results to differ from those anticipated in the forward-looking
statements, and risks to the company’s business in general, please
refer to the company’s Annual Report on Form 10-K for the year
ended December 31, 2015, its Quarterly Reports on Form 10-Q for the
periods ended March 31, 2016 and June 30, 2016 as well as its press
releases and other periodic filings with the Securities and
Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20161027005365/en/
CBRE Group, Inc.Steve Iaco, 212.984.6535Senior Managing
DirectorInvestor Relations & Corporate Communications
CBRE Group, Inc. (NASDAQ:CBRE)
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