By Anthony O. Goriainoff

Compass Group PLC (CPG.LN) said Tuesday that it has signed an agreement with Fazer Group to acquire its food-catering business, Fazer Food Services, for approximately 475 million euros ($537.2 million).

The support-services company said the initial cash transaction will be around EUR420 million, with the remaining deferred consideration payable within seven years. The final consideration figures will depend on closing balance-sheet adjustments and the operation of an earn-out, the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

June 11, 2019 02:33 ET (06:33 GMT)

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