| 25 June 2012
MITIE Group PLC ("MITIE"), the strategic outsourcing and energy services company has acquired the facilities management (FM) business of Dalkia Energy & Technical Services AS ("Dalkia FM")2 in Norway.
MITIE has acquired the FM contracts and the majority of the employees of Dalkia FM for a total maximum cash consideration of NOK 10m (£1.06m)3 subject to certain conditions being satisfied over the period to 7 September 2012.
Ruby McGregor-Smith CBE, Chief Executive, MITIE Group PLC, commenting on the transaction, said:
“This is a further step in our strategy to develop MITIE's ability to support our clients overseas. We are delighted to welcome the employees to MITIE
1 The acquisition was made by MITIE Norge AS, a wholly owned subsidiary of MITIE Group PLC.
2 Dalkia FM reported revenues of NOK 27.7m in the year ended 31 December 2011.
3 The conversion price used was NOK 1=£0.10614 as at 6 June 2012