News: UGL finalises sale of DTZ

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UGL Limited (ASX:UGL) has finalised the sale of global property services business DTZ for $1.215 billion.

 

The company says is sold the business to the TPG and PAG consortium after regulatory approvals were met. 

 

And A capital return of up to $500 million or $3 per share was approved by shareholders at the company’s AGM.

 

CEO Richard Leupen says the sale price reflects the significant value created in building a unique platform, delivering a highly positive result for UGl and its shareholders.  

 

UGL reported a net profit of $68.5 million in the 2014 financial year.