The property consultancy firm DTZ, which active across Central Europe is for sale, according to Theaustralian.com.au. The company’s Australian owner, UGL, has been trying to offload its consultancy arm over the past few months, but announced that it has not received any satisfactory bids. UGL reportedly received only one fully-financed bid from a shortlist of four interested parties. The bid came from TPG Capital Management. Warburg Pincus, Ares Management and Onex were the other contenders, writes Theaustralian.com.au. UGL wanted more than $1.3bn. TPG’s offer was not disclosed, but media sources speculate it was in the vicinity of $1bn.
