Proactive Investors - Run By Investors For Investors

MITIE to buy UK arm of Dalkia for £130 mln, to raise £40 mln via placing

MITIE to buy UK arm of Dalkia for £130 mln, to raise £40 mln via placing

MITIE Group PLC (LSE: MTO) said it is buying the UK technical facilities management operations of Dalkia PLC, controlled by French utility groups Veolia Environnement and EDF, for up to £130 million in cash.

It also announced a fully underwritten placing of 19 million new ordinary shares, representing approximately 6 percent of MITIE's currently issued share capital, with institutional and certain other  qualifying investors to raise at least £40 million before expenses.

Mitie expects the acquisition of Dalkia Technical Facilities Management save it £6 million per annum in cross selling opportunities and cost synergies by March 2011. The deal is expected to increase earnings per share in the first full year of ownership to March 31 2011.

View full MTO profile View Profile

MITIE Group PLC Timeline

June 08 2018

Related Articles

January 04 2019
In its outlook for 2019, the firm said the focus was now “not only on continuous improvements in feed grade and recoveries but on expanding the business into new jurisdictions”
November 20 2018
Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer

© Proactive Investors 2019

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