Real estate advisor DTZ has confirmed the acquisition of UK-based property consultancy Donaldsons. DTZ said that the transaction involves an initial consideration of £39.8 mln, plus a deferred consideration of up to £8.8 mln - totalling £48.6 mln (almost EUR 72 mln). The deal had been variously reported to be worth between £55 and £70 mln.
Real estate advisor DTZ has confirmed the acquisition of UK-based property consultancy Donaldsons. DTZ said that the transaction involves an initial consideration of £39.8 mln, plus a deferred consideration of up to £8.8 mln - totalling £48.6 mln (almost EUR 72 mln). The deal had been variously reported to be worth between £55 and £70 mln.
The combined business plans to be operating under the DTZ brand within a few months. Donaldsons has a strong position in the retail property sector in both the UK and continental Europe, managing around 100 shopping centres in each.
DTZ group ceo Mark Struckett said that the acquisition would further enhance his company's position in Europe and would provide opportunities to develop the combined business across all sectors of the market. Donaldsons chairman Martyn Chase, who will now chair DTZ’s UK Retail Division and oversee the development of DTZ's retail practice across EMEA, said that the transaction would enable them to safeguard their leading position in the retail property sector and to grow their wider business faster both in the UK and in continental Europe.
