LOS ANGELES — The $800 million privatization of Los Angeles-based CB Richard Ellis is complete, and shares of the real estate services company will no longer be listed on the New York Stock Exchange (NYSE). The company will continue operations as CB Richard Ellis.
Blum CB Corp. is the purchasing group and is headed by San Franscisco-based Blum Capital Partners LP. The group also includes New York- and Los Angeles-based Freeman Spogli & Co., and a number of CB Richard Ellis directors and executives. Under the terms of the transaction, the purchasing group bought outstanding CB Richard Ellis shares for $16 per share.