DTZ acquires Donaldson LLP

Mumbai, July 26: Global property adviser DTZ has acquired property consultancy Donaldsons LLP of UK.

The acquisition, made for Rs 402 crores, will enhance DTZ's service offering in retail property and will contribute largely for companies growth, DTZ chief executive Mark Struckett said in a statement today.

''Donaldsons' clients are also expectd to benefit from the broader client-focused property services of DTZ's pan-European and global platforms. The combined business will fully adopt the DTZ brand name in next few months.'', he said.

Slated as a cash plus stock deal, the acqisition has been made for an initial consideration of Rs 329 crore and a deferred consideration of Rs 73 crore.

''In the Indian context, as the government opens FDI in retail, the markets are undergoing an evolutionary phase. We see a natural fit for DTZ and Donaldsons' said DTZ India managing director Ankur Srivastava.

Headquartered in London, Donaldson is a leading provider of property advisory services across a broad range of clients in UK and continental Europe.

Following the acquisition, the 33 equity partners of Donaldsons will join DTZ to take up position as directors in the combined organisation.

DTZ has operation in 45 countries and has an employee strength of 11,000.

UNI