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Spotlight: CB Commercial to Acquire Koll Real Estate

May 14, 1997

Los Angeles-based CB Commercial Real Estate Services Group Inc. agreed to acquire Koll Real Estate Services of Irvine in a stock deal valued at $165.9 million, including the assumption of about $35 million of Koll's debt. The combined company, to be called CB Commercial, aims to be a global leader in real estate services. CB also reported first-quarter net income of $2.3 million, or 9 cents a share, versus a loss of $591,000, or 5 cents, last year. The merger doesn't include other Koll entities.

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