FirstService Corporation $FSRV announces it will separate into two companies

FirstService Corporation (FSRV) announced that it has approved a plan to separate FirstService into two independent publicly-traded companies – “Colliers International,” one of the top three global leaders in commercial real estate and “FirstService Corporation,” the North American leader in residential property management and services. After the separation, FirstService Corporation will be comprised of the current FirstService Residential and FirstService Brands divisions. Each company generates “strong cash flow, has compelling growth opportunities and a long history of creating shareholder value.” Source