Sodexo Signs 10-Year Contract With Rio Tinto Worth $1.86 Billion
March 16 2016 - 1:56AM
Dow Jones News
By Ambroise Ecorcheville
PARIS--Catering and services company Sodexo SA (SW.FR) announced
Wednesday it had signed a 10-year contract worth an estimated A$2.5
billion ($1.86 billion) with mining company Rio Tinto Ltd.
(RIO.AU)to run all of its assets in Australia's Pilbara region.
Sodexo, whose services include catering, cleaning and property
management, said it would provide the full range of services agreed
in the contract by the second half of 2016.
"This contract validates our decision to reorganize Sodexo to
focus on segments of clients, rather than by geography" at the end
of 2015, said Sodexo Chief Executive Michel Landel.
The French company employs some 420,000 people and had a market
capitalization of 15 billion euros ($16.65 billion) at Tuesday's
close.
(Nick Kostov contributed to this article.)
-Write to Ambroise Ecorcheville at
ambroise.ecorcheville@wsj.com
(END) Dow Jones Newswires
March 16, 2016 02:41 ET (06:41 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Sodexo (PK) (USOTC:SDXAY)
Historical Stock Chart
From Oct 2024 to Nov 2024
Sodexo (PK) (USOTC:SDXAY)
Historical Stock Chart
From Nov 2023 to Nov 2024
