|
 |
|
|
|
|
|
|
Tuesday March 29, 06:57
|
|
EQT, Goldman pay $3.8 billion for Danish cleaning company
(by Julia Jenson)
|
|
EQT Partners AB, a private equity firm, in conjunction with Goldman Sachs Group Inc.’s private-equity unit, have announced their decision to purchase the largest cleaning company on the globe, Denmark-based ISS A/S. The value of the deal is $3.8 billion in cash.
The talks between the private equity firm consortium and ISS have been going on for about a week since March 23. EQT and Goldman Sachs Capital Partners offered 470 kroner ($81.29) per ISS share, a 31% premium over the company’s closing price on March 23 in Copenhagen.
The control of ISS will be split between the two partners, with EQT grabbing 55% of ISS’s stock, and Goldman Sachs Capital Partners keeping the other 45%. The purchase was approved by Franklin Resources Inc.’s Franklin Templeton unit, ISS’s largest shareholder with a 9.1% stake.
``EQT can help accelerate the execution of the company’s strategy by investing further in organic growth and add-on acquisitions,’’ Ole Andersen, partner at EQT Partners, said in EQT and Goldman’s press release.
|
|
All banking news
|
|
|
|
|
|
|
|
|
|
 KEYWORD SEARCH |
|
|
|
|
|
SUBSCRIPTION |
|
|
|
|
|