DTZ puts itself up for auction
Published: 19 October, 2011
Following the collapse of sale talks with Saint George Participations and BNP paroibas, DTZ has invited new offers for the business
DTZ reacted to the collapse of the previous bid process by announcing that an independent committee of directors would start exploring the strategic options available to DTZ.At the same time the company says it has received preliminary indications of interest from a number of parties potentially interested in acquiring DTZ. Accordingly, it now plans to start formal sale process of the company.
Potential bidders are being asked to contact DTZ's adviser, Oriel Securities. On signing a non-disclosure agreement they will be given access to a data room and to management.
The company mad eit clear there was no certainty that a satisfactory offer would be forthcoming, and it will continue to explore other options for future funding.
