TPG, Teachers, PAG to buy Australian property firm DTZ for $1.1 bln: Reuters
A TPG Capital Management-led consortium has agreed to buy the property arm of Australian engineering services firm UGL Ltd for A$1.215 billion (US$1.14 billion), a source told Reuters. UGL put the unit DTZ, a real estate services company, for sale to cut debt as its main engineering services division faces declining revenues due to a slowdown in the mining sector. TPG's consortium partners include Hong Kong private equity firm PAG Asia Capital and Ontario Teachers' Pension Plan.
16 June 2014•2 mins read
