Rentokil Initial PLC
02 July 2007
2 July 2007
Sale of Initial Electronic Security Group
Further to the announcement on 30 March 2007 of the proposed sale of its
electronic security businesses to United Technologies Corporation for £595
million, Rentokil Initial plc announces that various conditions of the
transaction, including employee works council approvals and European Commission
clearance, have now been met and that therefore the sale of the UK business,
Initial Fire & Security, the Netherlands business, Initial Varel Security and
the USA business, Initial Electronics, has today been completed. The sale of
these businesses represents approximately 85% of the total offer value for
Initial Electronic Security Group. The proceeds were received in cash.
The sale of the French business, Initial Delta Securite, remains conditional
upon French regulatory approval. The process for obtaining this approval is
ongoing.
Ends
Notes to Editors
Initial Electronic Security Group
The businesses within Initial Electronic Security Group (IESG) - principally
comprising Initial Fire & Security, Initial Varel Security, Initial Delta
Securite and Initial Electronics - are leading providers of electronic security
services to commercial and public sector customers in the UK, the Netherlands,
France and the USA respectively.
Rentokil Initial
Rentokil Initial is one of the largest business services companies in the world,
operating in all the major economies of Europe, North America, Asia Pacific and
Africa. The company has some 70,000 employees providing a range of support
services in over 40 countries where the 'Rentokil' and 'Initial' brands have
come to represent innovation, deep expertise and consistent quality of service.
Services include textiles and washroom services, pest control, tropical plants,
parcels delivery and facilities services.
For further information, please contact
Rentokil Initial plc
Malcolm Padley, Corporate Communications - 020 7866 3027/ 07788 978 199
Lisa Williams, Investor Relations - 020 7866 3028/07980 895 419
Brunswick Group
Kate Holgate - 020 7404 5959/07974 982402
Tom Williams - 020 7404 5959/07834 502 361
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The company news service from the London Stock Exchange
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