DTZ puts itself up for sale after takeover talks collapse

DTZ has formally put itself up for sale, two days after its majority shareholder pulled out of takeover talks. The property consultant said yesterday a number of bidders had expressed an interest and it will also consider other strategic options.

The French family-owned property group Saint Georges Participations, which holds 55 per cent of DTZ, had attempted to bid with the French bank BNP Paribas Real Estate. Analysts said interested bidders may include the Australian support services company UGL and the global property consultants CBRE and Jones Lang LaSalle.