CBRE and T&T to combine project management arms

US giant CBRE has decided to combine its project management businesses with that of its majority-owned Turner and Townsend consultancy.
The move to merge the two PM divisions will create a $3bn business employing more than 2,000 staff across 60 countries.
CBRE bought a 60% controlling stake in the 75-year-old T&T nearly three years ago for £960m.
The new deal to merge the PM businesses will see CBRE up its stake to 70% in the new Turner & Townsend/CBRE Project Management entity rel