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In an all-cash transaction valued at $415 million, CB Richard Ellis and Insignia Financial Group have joined forces to form the world's largest real estate and brokerage firm. The new company boasts revenues exceeding $1.8 billion and 16,000 employees in 47 countries.
Although the merger won't be finalized until June, the new firm, known as CB Richard Ellis, already has goals in place.
The entity expects to generate $90 billion in annual sales and leasing transactions; conduct $32 billion in capital markets transactions, including property sales and mortgage banking; manage more than $13...