Cleanzine: your weekly cleaning and hygiene industry newsletter 17th October 2024 Issue no. 1134
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ISS successfully completes the divestment of ISS Hygiène et Prévention in France
ISS has successfully completed the divestment of ISS Hygiène et Prévention to Weinberg Capital Partners. Established in 1965, ISS Hygiène et Préventionis a leading provider of route-based hygiene and prevention services to the French market. This includes services such as air hygiene, sewerage, pest control and fire protection. ISS Hygiène et Prévention employs approximately 1,500 employees and generated around DKK 900 million in revenue in 2018.
The divestment aligns with ISS's strategy, focusing on core on-site activities, supporting the development of the Integrated Facility Services and key account customers.
With the completion of the divestment, the management team in France can now focus their undivided time and attention on improving performance in the continuing business.
With this divestment, ISS has completed around 40% of the communicated divestment programme which is expected to conclude by the end of 2020. The expected total net divestment proceeds remain DKK 2.0 - 2.5 billion. ISS will return at least 25% of these divestment proceeds to shareholders.
12th December 2019