UGL

TPG Capital is in final negotiations with UGL Ltd. (UGL.AU) to buy its DTZ property management arm for 1.2 billion Australian dollars (US$1.1 billion), the Australian Financial Review newspaper reported Monday.

Citing sources it didn't name, the newspaper said on its website that a deal will be announced as early as Tuesday.

UGL noted the report in a market filing, but would only confirm previous statements that discussions with interested parties are ongoing.

TPG was the sole bidder for the business after a deadline for final offers passed, a person familiar with the matter said last month.

Newspaper website: http://www.afr.com

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