CB Richard Favorite to Acquire ING’s Real Estate Unit, FT Says

CB Richard Ellis Group Inc. is favored to acquire the majority of ING Groep NV’s global real estate investment unit, the Financial Time reported, citing unidentified people familiar with the talks.

The purchase is expected to be valued at more than 1 billion euros ($1.3 billion) and would create the world’s largest property funds business with more than $100 billion under management, the paper said. Final terms with ING could be agreed in the next few weeks, it said.