In line with ISS’ strategy to simplify and focus its business towards key account customers, the global facilities services provider has entered into an agreement to divest its activities in four Eastern European markets .
The divestment includes ISS’s main subsidiaries in the Czech Republic, Slovakia, Romania, and Hungary, which represent an annual turnover of just above DKK 500 million (£57 million).
The buyer is Hungarian facility management company B+N Referencia Zrt. Transfer of the ownership will take effect immediately upon signing of the agreement, except for the sale of ISS Hungary which is subject to customary antitrust approval and expected to close within the second quarter of 2021.
ISS has said it will “continue to support and remain as a partner for its global key account customers present in the affected markets”, adding the approximately 4,000 employees currently working in the four country operations in scope “will maintain their contractual rights in connection with the sale”.