Market Overview

Shares Of Jones Lang Lasalle Lower Despite International Acquisition Announcment


Shares of Jones Lang LaSalle Inc (NYSE: JLL) were trading lower by more than 1 percent on Monday despite the company's announcement that it has acquired Cobertura SA, one of Portugal's largest market-leading agencies that specializes in the residential real estate sector.

Jones Lang LaSalle stated that its latest acquisition is an "example" of the company's "disciplined acquisition strategy" that targets "key growth opportunity with complementary high-margin business additions."

Cobertura's structure consists of 20 full-time employees and a network of 25 specialist residential advisers.

Jones Lang LaSalle added the acquisition will take effect immediately and the Portuguese firm will be fully re-branded by mid-2016. Financial terms of the deal were not disclosed.

Guy Grainger, JLL's EMEA Management Board sponsor for Residential services, said: "Cobertura has an excellent track record across Portugal's prime residential markets, impressively maintaining its position in the country's top four in competition with larger international networks. The combination of JLL's global platform with Cobertura's specialist local market knowledge is a really exciting fit with considerable growth potential."


Related Articles (JLL)

View Comments and Join the Discussion!

Posted-In: Cobertura SA Jones Lang LaSalle Real Estate Residential Real EstateM&A News Movers

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at