Date:28/07/2007 URL: http://www.thehindubusinessline.com/2007/07/28/stories/2007072851981300.htm

Back DTZ buys UK property consultancy

New Delhi, July 26 Global property adviser DTZ, has acquired the business and assets of UK-based property consultancy Donaldsons LLP in acash plus stock deal for an initial consideration of £39.8 million (Rs 329 crore), plus deferred consideration of up to £8.8 million (Rs 73 crore). The deal is expected to enhance DTZ’s portfolio particularly retail property. Donaldsons’ clients will also benefit from DTZ’s pan-European and global presence. The combined business will fully adopt the DTZ brand name from autumn 2007.

Headquartered in London, Donaldsons employs 690 staff in the UK and 220 in continental Europe. For the year ended June 30, 2006, the company reported a turnover of £62.9 million. —

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