(Corrects Oct. 1 story to remove reference in second paragraph to Brexit uncertainty, which the company has said was a view held by its previous, not current, management team)
Oct 1 (Reuters) – British outsourcing firm Mitie Group Plc said on Monday it would sell its pest control business to Rentokil Initial Plc for 40 million pounds ($52.1 million) cash, as it looks to focus on its core businesses as part of a restructuring.
The company, which provides cleaning, security and healthcare services, has been restructuring since issuing profit warnings in 2016 and 2017.
Mitie has also formed a preferred supplier partnership with Rentokil, to provide a range of services, including pest control, to Mities customers.
The company said the deal w…
Read the full article at: https://www.reuters.com/article/mitie-group-divestiture/corrected-update-1-mitie-to-sell-pest-control-business-as-part-of-restructuring-idUSL4N1WH266