Acquisition of a further 10 per cent interest in Edmund Tie & Company Holdings Pte Limited

DTZ Holdings plc, the global real estate services firm, announces the acquisition of a further 10 per cent interest in Edmund Tie & Company Holdings Pte Limited, as a result of the exercise of a put option by New Horizon Holdings Pte Limited which was granted to it in November 2005.

Following the completion of the acquisition today the Group will hold a 61 per cent interest in the business which operates in Singapore, Vietnam, Malaysia, Thailand and Indonesia.

The total consideration for the acquisition of this further 10 per cent interest is SGD5.9 million (GBP2.8 million), and comprises a cash payment of SGD2.9 million (GBP1.4 million) and 3,268,790 shares in DTZ Holdings plc.

Accordingly, application has been made to the UK Listing Authority for these shares to be admitted to the Official List, and to The London Stock Exchange for these shares to be admitted to trading.

The shares for which application has been made are identical and will rank pari passu in all respects with the Company's existing shares in issue.

Dealings are expected to commence today, 22 November 2010.

source : DTZ