Global real estate adviser DTZ has announced plans today to raise £55m (€58.9m) through a share offer and placement as part of the renegotiation of its credit facilities, as European companies face a year of restructuring.

DTZ will issue new shares at a price of 27p per share, which is an 8.5% discount to the company's closing price before the announcement, in order to meet its working capital requirements and weather the market downturn.