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.