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16/05/2011

DTZ confirms approaches

French property group SGP has confirmed it is in talks to buy global real estate consultancy DTZ. It is thought…

French property group SGP has confirmed it is in talks to buy global real estate consultancy DTZ. It is thought the 55 percent shareholder wants to take the group private and then sell it on to BNP Paribas Real Estate in a plan codenamed “Project Singapore”.

DTZ said on May 11th that it had received a number of approaches for investment in the company’s shares “including a possible offer for the shares in the company”. It said it was holding “very preliminary” discussions with the various parties who had made the approaches.

DTZ said there could be no certainty that any structure would be progressed or that any offer would be ultimately made as no formal bid had been tabled at the time. The Daily Telegraph reported SGP was believed to be considering a £162m deal.

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