Cleanzine: your weekly cleaning and hygiene industry newsletter 18th April 2024 Issue no. 1110
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ISS divests activities in four Eastern European markets
ISS has entered into an agreement to divest its activities in four Eastern European markets to B+N Referencia Zrt. The move is in line with ISS's strategy to simplify and focus its business towards key account customers.
The divestment includes ISS's main subsidiaries in the Czech Republic, Slovakia, Romania, and Hungary. The buyer is the large Hungarian facility management company B+N Referencia Zrt. ISS will continue to support and remain as a partner for its global key account customers present in the affected markets.
Transfer of the ownership will take effect immediately upon signing of the agreement, except for the sale of ISS Hungary which is subject to customary antitrust approval and expected to close within the second quarter of 2021. The approximately 4000 employees currently working in the four country operations, will maintain their contractual rights.
The four subsidiaries represent an annual turnover of just above DKK 500 mill.
8th April 2021