SYDNEY-UGL Limited is pursuing a demerger tocreate two standalone ASX-listed companies, one focused on globalproperty services, DTZ, and the other onengineering, construction and maintenance services in Australia,New Zealand and Asia, Engineering.

The firm's decision to pursue a demerger follows the completionof the corporate structure review in March. That review included adetailed evaluation of the issues, costs and benefits of variousalternatives including maintaining the current corporate structure,industry opportunity, the company's M&A strategy and astructural separation of DTZ and Engineering.

“We believe a demerger will enhance shareholder value over theshort and long term and prove beneficial to our clients and ourpeople,” said UGL chairman Trevor Rowe. “Over thepast decade, UGL has successfully grown its property services andengineering businesses to become sizeable businesses which areleaders in their respective markets.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.