Refinement of details associated with merger of DTZ and BNP Paribas is planned at the end of July. The merger of the two companies will result in appearance of the largest firm, with the total income of 772 m GBP, offering the real property services – informs Property Week.
This week the scheme of the merger gained momentum. The reason for this is the end of the submission deadline for the competitors’ proposals. At present DTZ is conducting negotiations with the main shareholder of the firm – Saint George Participations (SGP), a French consortium, which in the course of the complex transaction will sell DTZ to BNP Paribas. SGP, which owns 54.4 per cent of DTZ’s shares, is going to prepare the offer within the next two weeks. The price of a single share is going to be of 60 pence. The value of the company after the sale is estimated at 162 m GBP and after taking into account the debt value – 250 m GBP.