Interserve sells FM arm to Mitie in £271m deal

摘要

Interserve has agreed to sell its facilities management business to Mitie in a £271m deal. The contractor will receive £120m in cash, and shareholders will receive shares in Mitie worth £151m.The banks and other debt holders, who became Interserve's owners in last year's pre-pack administration, will own just over 23 per cent of Mitie. Interserve's owners will keep some of the cash from the deal with the remainder used to pay down the group's debts or retained in the business. To fund the takeover, Mitie is issuing £201m of new shares. Both the rights issue and the takeover will have to be approved by Mitie's shareholders at a separate general meeting.The deal must also get clearance from the Competition and Markets Authority. The takeover is expected to be finalised by the end of 2020 and must be completed or scrapped by 31 March next year at the latest.