According to ISS, the divestment reflects the company’s strategy of “focusing on its core business in markets with significant future demand for Integrated Facility Services and markets of importance for global Key Account customers”.
The buyers of the business are Estonian and international private investors.
With the transfer of shares, all employees and customers will be transferred to the new owners on existing terms.
ISS added it “will continue to support the Global and Regional Key Accounts in Estonia”. In the near future, the new owners and ISS will work together to ensure business continuity for its customers and support ISS employees in making a smooth transition.
On 10 December 2018, ISS had announced its intention to divest activities and business in certain geographies to accelerate the transition towards Key Accounts.
In January of this year, ISS announced the divestment of its activities in Argentina and Uruguay.