Colony NorthStar Completes Sale of The Townsend Group to Aon
COLONY NORTHSTAR INC (CLNS)
Last colony northstar inc earnings: 5/10 06:30 am
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ir.clns.com
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Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- Colony NorthStar, Inc. (“Colony NorthStar” or the “Company”) (NYSE: CLNS), a leading global real estate and investment management firm, announced today that is has closed its previously announced sale of The Townsend Group (“Townsend”) to Aon plc (NYSE: AON). Aon is a global professional services firm providing a broad range of risk, retirement and health solutions. Colony NorthStar was the majority owner of Townsend, a leading provider of global investment management and advisory services primarily focused on real estate and real assets. On September 1, 2017 Colony NorthStar announced the agreement to sell Townsend to Aon for $475 million. Net proceeds to affiliates of Colony NorthStar, Inc. for its ownership interest after transaction and other expenses is estimated to be approximately $379 million. “The closing of the Townsend sale is a great outcome for Colony N
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