Colliers International Group Inc. (TSX:CIGI) agreed to acquire a majority stake in CB Richard Ellis of Virginia Inc on November 12, 2018. After the transaction CB Richard Ellis of Virginia Inc will be rebranded as Colliers International Virginia. Till December 31, 2018 CB Richard Ellis of Virginia, Inc. will be operate as an affiliate of global real estate firm CBRE Inc. After the transaction J. Scott Adams, president of CB Richard Ellis of Virginia, will become president of Colliers International Virginia and 340 employees of CB Richard Ellis of Virginia Inc will be retained by Colliers International Group Inc. The transaction is approved by the shareholder of CB Richard Ellis of Virginia, Inc.and is subject to other customary closing condition. The transaction is expected to close January 2019. The current shareholders of CB Richard Ellis of Virginia Inc will continue to retain equity in the business under the unique Colliers partnership model. Colliers International Group Inc. (TSX:CIGI) completed the acquisition of a majority stake in CB Richard Ellis of Virginia, Inc. for $15.9 million on January 4, 2019. Colliers International Group Inc. The consideration includes $3.2 million of cash acquired.