Global real estate adviser DTZ said on Monday that it was still reviewing approaches of interest, including one from its majority shareholder Saint George Participations SAS (SGP), supported by brokerage firm BNP Paribas.
Global real estate adviser DTZ said on Monday that it was still reviewing approaches of interest, including one from its majority shareholder Saint George Participations SAS (SGP), supported by brokerage firm BNP Paribas.
The London-listed broker said that it 'continues to provide information to parties to facilitate their investment evaluation processes', and stressed that discussions are still at an early stage. 'There can be no certainty that any proposals will be progressed or that any offer will be ultimately made', it said.
The company first announced in early May that it was holding talks with various parties after receiving 'a number' of takeover approaches. Shortly thereafter, French family-run SGP confirmed that it was in talks to take DTZ private at about 60 pence a share, ahead of a possible sale of the brokerage firm to BNP Paribas. It is understood that the French bank plans to merge DTZ with its own property unit and list the combined business in a few years' time.
SGP is the French family firm that bought a majority stake in DTZ in 2009. It currently owns about 55% of DTZ.
