12:01 PM EST, 02/18/2025 (MT Newswires) -- (Updates shares.)

Colliers International Group ( CIGI ) late on Monday said it agreed to acquire a controlling stake in Australian urban planning and design advisory firm Ethos Urban.

Ethos Urban's senior leadership team will remain significant shareholders in the business, which will be rebranded as Colliers in the second half of 2025.

"We see tremendous potential with this partnership and expect to leverage our brand, established reputation, and deep connections in the Australian real estate and infrastructure market to grow the business and cross-sell services to our combined client base," said Colliers chief executive of Real Estate Services Global Chris McLernon.

The deal is scheduled to close in the first half, subject to customary closing conditions.

Colliers shares were last seen down $2.57 to $184.06 on the Toronto Stock Exchange.

Price: 183.64, Change: -2.99, Percent Change: -1.60