London, 9 March 2009 – In one of the most significant real estate services contracts ever to come out of Norway, CB Richard Ellis Group, Inc. (NYSE: CBG) announced today that it has been selected by StatoilHydro ASA (OSE: STL, NYSE: STO) as its preferred global real estate provider of transaction and project management services. StatoilHydro’s six million square foot global portfolio consists of over 70 properties in 40 countries.
StatoilHydro sought to establish a partnership with a global real estate advisor with a proven track record of delivering a real estate strategy that is capable of supporting the growth and expansion of its international business operations. This, coupled with CBRE’s ability to deliver a comprehensive range of real estate services on a truly global basis, were key determining factors in CBRE’s selection.
Matthew Pullen, Head of CBRE Global Corporate Services, EMEA, said: "This engagement represents a great vote of confidence in CBRE’s global and emerging markets platform. We are delighted that one of Norway’s largest and most respected companies has chosen to work with our firm and I am confident our new relationship will serve as a strong enabler for StatoilHydros’ global growth plans."
Svein Harald Storli, Vice President of Facilities Management Services in Global Business Services at StatoilHydro, said: "The appointment of CBRE as StatoilHydro’s global real estate partner is an important step in the development of our integrated global business support infrastructure. As the pace of business activity continues to intensify, our ability to leverage enhanced capabilities from strategic partners is critical. Our new relationship with CBRE will enhance our ability to deliver a robust property services offering to our businesses worldwide."
StatoilHydro ASA was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. StatoilHydro is one of the largest offshore oil and gas companies in the world and the largest company by revenue in the Nordic region. The company is a fully-integrated petroleum company with production operations in 13 countries and retail operations in eight countries.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has more than 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 "best in class" company and Fortune 100 fastest growing company two years in a row. Please visit our website at www.cbre.com.