MITFY Mitie Group PLC (PK)

   By Adam Clark 
 

ACQUIRER: Mitie Group PLC (MTO.LN)

SELLER: Compass Group PLC (CPG.LN)

TARGET: Vision Security Group Ltd.

PRICE: 14.0 million pounds ($18.4 million)

STATUS: Agreed deal

EXPECTED CLOSE: By the end of October.

RATIONALE: To strengthen Mitie's Total Security Management business, accelerating the growth of its technology-enabled and intelligence-led security solutions.

QUOTATION: "As a core part of Mitie, our security business has delivered a strong performance over the last three years, with sales growing by over 30%. This acquisition gives us the leadership position we seek to maximise value from our technology-led solutions," Mitie Chief Executive Phil Bentley said.

STOCK MOVE: At 0836 GMT, Mitie shares down 0.7%, Compass shares up 0.7%.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

October 08, 2018 04:56 ET (08:56 GMT)

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