DTZ still considering approaches

Property consultant DTZ said yesterday it was still considering approaches of interest in its shares, including one from majority shareholder Saint George Participations SAS (SGP), and that talks were at an early stage.

By The Newsroom

Published 21st Jun 2011, 09:43 BST

On May 11, DTZ, whose rivals include Jones Lang Lasalle and CB Richard Ellis, said it had received a possible bid for the company, sending its shares up more than 30 per cent on the day.

“The board continues to review approaches ... including one from Saint George Participations SAS, the majority shareholder of DTZ, supported by BNP Paribas,” it said in the statement released yesterday.

DTZ said it would continue to provide information to interested parties to “facilitate their investment evaluation processes”.

French family-run property group SGP owns about 55 per cent of DTZ.

On May 12, it was reported SGP was looking to take DTZ private at about 60 pence a share before selling it to BNP Paribas Real Es- tate.

On June 17, DTZ shares closed at 41 pence.

Its shares initially rose 7.9 per cent yesterday after revealing the approaches of interest.