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Mitie to buy Interserve FM business in €300 million deal
25th of June 2020
In the UK, facilities services contractor Mitie is to buy Interserve Support Services - which went into administration last year - in a deal worth €300 million (£271 million). Up to 600 jobs are expected to be lost as a result of the merger.
Under the deal agreed by both company boards, Interserve will receive a payment of €133 million (£120 million) and a 23.4 per cent shareholding in Mitie.The combined organisation will be evenly balanced between the public and private sectors and will be the largest FM company in the UK, employing over 77,500 people.
Interserve Group will continue to focus on delivering its business plans for its three remaining divisions, Construction, Interserve Construction and Equipment Services (RMD Kwikform) and Citizen Services.
Completion of the transaction is subject to certain conditions and the merger expected to be completed by the end of this year.
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