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Financials

CBRE Group to buy Telford Homes for 267.4 million pounds

July 3 (Reuters) - U.S.-real estate firm CBRE Group Inc said on Wednesday it will acquire British residential property developer Telford Homes Plc for about 267.4 million pounds ($336.15 million).

The all-cash deal for 350 pence per share represents a premium of about 11.1% to Telford’s closing price on Tuesday.

CBRE said London-listed Telford will become a part of its Tramwell Crow Company and its chief executive officer Jon Di-Stefano will continue to lead the business. ($1 = 0.7955 pounds) (Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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