DTZ for sale

DTZ this morning formally put itself up for sale. The hoisting of an official for sale sign above the agent comes just days after its largest shareholder SGP said that it would not be making a bid for the company. DTZ said that it had received “preliminary indications of interest from a number of parties potentially interested in acquiring DTZ” and that to “evaluate this option in the most effective manner it will implement a formal sale process”.  The agent said it was also looking at other strategic options for the company “aimed at ensuring the long term growth of the business, addressing the capital structure and providing funds for future investment”. Oriel Securities has been appointed to handle the sale of the business.   In depth The deal goes flat Former EG editor Peter Bill looks at what went wrong at DTZ over the past decade. More>>       Latest news EG Survey: Your views on DTZBy 1pm today, just less than 30% of respondents to the survey believed that CBRE would buy DTZ, with BNP Paribas Real Estate in second place with 18.4%. More>> DTZ board under pressure Pressure on DTZ’s board to secure a capital injection mounted this week after its majority shareholder backed out of a takeover plan, forcing the board to announce a formal sale process. More>> Downward spiral of DTZ’s financesWhen DTZ put itself up for sale on Wednesday the agent said the formal process would run alongside consideration of other strategic options aimed at “ensuring the long-term growth of the business, addressing the capital structure and providing funds for future investment”. More>> DTZ – news backstory SGP eyes DTZ takeover bidThe majority owner of DTZ, French property group SGP, has been revealed as the mystery bidder for the listed agent. More>> Mathy family in talks to take DTZ privateThe majority owner of DTZ, French property group SGP, has been revealed as the mystery bidder for the listed agent. More>> Update: SGP confirms DTZ talksFrench property group SGP has confirmed it is in preliminary discussions with DTZ regarding a possible offer for the listed agent. More>> DTZ on the road to BNP ParibasThe prospect of a new global agent with extensive coverage of Europe and the Asia Pacific markets emerged this week as DTZ entered takeover talks with its majority shareholder. More>> Why DTZ fits BNP PRE gameplanThose who speculated that BNP Paribas Real Estate was the predator that forced DTZ into a stock exchange announcement this week were proven right a day later. More>> Will DTZ-BNP Paribas merger create a global powerhouse?Strong UK presence would be crowning achievement for French bank if merger talks succeed. More>> Buy, buy or bye bye DTZ?Forget the headline numbers from DTZ this week – a pretax loss of £3.4m, revenue down by around 4% to £341.3m – it’s the contrasting, underlying national numbers that reveal most. More>> Bonus payments delayed as formal takeover offer looms for DTZDTZ has suspended the payment of staff bonuses for four months.More>> Forrester takes charge as Idzik quits DTZDTZ chief executive Paul Idzik and finance director Bob Rickert have resigned, it was revealed this morning.More>> No DTZ UK head expected after Forrester promotionDTZ is not expected to appoint a head of the UK business following John Forrester’s promotion to chief executive.More>> Takeover talks still on with SGPDTZ said this morning that it remains in talks about a takeover by its major shareholder. More>> SGP drops DTZ takeover bidSaint Georges Participations confirmed today that it will not proceed with its bid to take over DTZ due to the uncertain economic climate.More>> DTZ launches formal sales processDTZ this morning formally put itself up for sale.More>>     DTZ on Dipity.