Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

CBRE Group Inc (CBG): ValueAct Capital Agrees To Sell Over 6 Million Shares

In a newly amended filing with the Securities and Exchange Commission, Valueact Capital, led by Jeffrey Ubben, disclosed that it entered into a stock sale agreement under which Morgan Stanley & Co. Inc. will sell, on the account of the hedge fund, up to 6.17 million shares of the common stock of CBRE Group Inc (NYSE:CBG). According to the filing, ValueAct Capital holds 32.17 million shares of the company, the stake is equal to 9.7% of the class.


Los Angeles-based CBRE Group Inc (NYSE:CBG) is a commercial real estate services company, which has a market cap of $10.3 billion. ValueAct Capital states in the filing that the sale of the company’s shares under the agreement can commence as early as September 4, 2014, and will terminate no later than March 4, 2015, on the New York Stock Exchange.

ValueAct Capital notes that the number of the company’s common stock shares sold each day by Morgan Stanley during the plan period will be initially based upon the reported price of the opening reported market transaction in the common stock, and may be increased or decreased in connection with a corresponding decrease or increase in the market price of such stock.

Moreover, ValueAct Capital state that it is selling these shares as part of its standard ongoing process of portfolio management. The fund remains strongly supportive of management, remains committed to its position on the board of directors and has no current intention of further significantly reducing its position in the CBRE Group Inc’s (NYSE:CBG) securities.

In the Unites States, real estate market is back on track as is evident from the recent increase in prices and rentals, and CBRE Group Inc (NYSE:CBG) has been one of the big beneficiary of the growth in the real estate sector over past few quarters. The company’s stock is up more than 44% in last one year. In a recent interview on CNBC, Bob Sulentic, president and CEO of CBRE Group Inc (NYSE:CBG), discussed the recent developments happening in real estate markets and the lucrative areas for real estate investments.

In its latest 13F, ValueAct Capital disclosed 16 investments, which have a current market value of $13.5 billion. The top pick is Microsoft Corporation (NASDAQ:MSFT), in which the investor has acquired additional 2.9 million shares, taking its stake to 74.2 million shares which have a market value of $3 billion, as of the end of the second quarter.

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!