Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Empresaria Group invests in Peru outsourcing group

"This investment is an important part of our strategy to maintain our global diversification, develop our presence in the high-potential Latin American market"
peru on the map
Empresaria is paying £2.1mln for the controlling stake

Empresaria Group plc (LON:EMR) told investors it has made an investment in Peru with a deal to acquire a 60% stake in Grupo Solimano, an outsourcing and temporary staffing business.

It is paying £2.1mln for the controlling stake, comprising £1.35mln of initial cash and subsequent deferred payment.

READ: Empresaria Group delivers another year of record profits

The transaction to acquire Grupo Solimano, which generated £14.9mln, will be funded via operating cash flows. The company said that it is expected to be neutral to earnings in the current financial year and earnings enhancing in the next.

"This investment is an important part of our strategy to maintain our global diversification, develop our presence in the high-potential Latin American market and is in line with our focus on temporary and contract recruitment,” said Spencer Wreford, Empresaria chief executive.

“We are delighted that Grupo Solimano has joined the Group and we look forward to working with them to develop their business within Empresaria."

View full EMR profile View Profile

Empresaria Group plc Timeline

Related Articles

Talent meter
March 07 2018
Underlying profits are up 20% year-on-year and net fee income should be around 17% higher
Intellectual property sign
April 11 2018
The AIM-listed intellectual property group’s investments were worth £8mln as at the end of December 2017, helped by the additions of The Vaccine Group and water pollution tester Molendotech
Laptop
June 06 2018
Financial services have been especially strong and driven by fears over cybersecurity ...

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use