Rentokil Initial and Haniel JV Gets Clearance

The European Commission (EC) unconditionally cleared the formation of the joint venture (JV) between Rentokil Initial PLC, Camberley, England, and Franz Haniel & Cie. GmbH, Duisburg, Germany, under the EC Merger Regulation, according to a news release.

There are no further conditions to satisfy in order to complete the transaction. The companies also have completed all necessary employee information and consultation procedures, including receiving “positive advice” from the Netherlands Works Council. As a result, the transaction is expected to complete on or around June 30.

Rentokil Initial and Haniel announced on Dec. 16, 2016, that they had entered into an agreement to form a joint venture as a provider of workwear and hygiene services in Europe, and that completion of the transaction would be conditional on receipt of competition clearance from the European Commission, the release said.

Rentokil Initial is one of the largest business services companies in the world, operating in over 65 countries and employing 38,000. The company offers route-based services including pest control, hygiene and workwear through teams of local experts.

The joint venture brings together Rentokil Initial’s workwear and hygiene businesses in 10 countries, principally in the Benelux, and Central and Eastern Europe regions, together with Haniel’s businesses in 17 countries which operate under the CWS-boco brand. The joint venture will have revenues of €1.1 billion.

To read the full release, click here.