GLOBAL - French real estate company SGP is in line to mount a takeover of DTZ, following an announcement on Wednesday that it was in discussions with various suitors, according to a UK newspaper.

SGP already owns 55% of the indebted real estate company and could choose to buy all remaining shares in a deal that would value DTZ at £162m (€186m), according to The Daily Telegraph.

The newspaper went on to report that SGP could then sell on DTZ to BNP Paribas Real Estate, although neither party has confirmed this.

DTZ disclosed on Wednesday that it had "received a number of approaches for investment in the company's shares", which appeared to be prompted by a sudden surge in its share price shortly before the announcement.

DTZ said: "The discussions are at a very preliminary stage. There can be no certainty that any structure will be progressed or that any offer will be ultimately made.

"A further announcement will be made, as appropriate, in due course."

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