Property adviser DTZ said on Thursday it had acquired Canadian peer J.J. Barnicke for EUR 19.8 mln, subject to a working capital adjustment. An additional EUR 1.1 mln may be payable if certain conditions are met. DTZ is financing the acquisition from existing facilities and notes convertible into DTZ shares.
Property adviser DTZ said on Thursday it had acquired Canadian peer J.J. Barnicke for EUR 19.8 mln, subject to a working capital adjustment. An additional EUR 1.1 mln may be payable if certain conditions are met. DTZ is financing the acquisition from existing facilities and notes convertible into DTZ shares.
J.J. Barnicke's earnings before interest, taxation, depreciation and amortisation (ebitda) came in at EUR 2.8 mln for the full year 2006. The acquisition is expected to be earnings-neutral in 2007 and earnings-enhancing from next year, DTZ said.
