Debenham Thouard Zadelhoff, known as DTZ, was a European joint venture originated from UK, France and the Netherlands, operating as a commercial real estate services firm. On September 1, 2015, Cushman & Wakefield and DTZ merged. In December 2011, the parent company DTZ Holdings was placed into administration and its business entities were sold to UGL in order to repay £77.5m of an outstanding £106m debt owed to Royal Bank of Scotland and its shareholders equity was wiped out after a deal with its majority shareholder Saint George Participations and BNP Paribas Real Estate fell through. the company was reportedly worth almost £500m around 2006. The company was in financial difficulty after a spending spree prior to financial crisis buying Rockwood in the US and retail agent Donaldsons. More information...
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