SALE OF INTERSERVE FACILITIES MANAGEMENT TO MITIE

Our Ref: BR1/15/6

 

2nd July 2020

 

Dear Colleague,

 

SALE OF INTERSERVE FACILITIES MANAGEMENT TO MITIE 

 

The union has received correspondence that Mitie has signed a Sale & Purchase Agreement to acquire Interserve Facilities Management. Mitie are hoping to negate the negative impact that COVID-19 has had on the whole of the rail network. The company are raising over £200m in equity through a Rights Issue and has gained lender support for the takeover. However, the Interserve transaction is subject to shareholder approval and it is not expected to be completed until later this year.

 

The National Executive Committee has considered this matter and has noted the latest update and correspondence from the company, detailing the Rights Issue and the need for shareholder approval. Therefore, I have been instructed to continue to monitor this situation and to place any further updates back before the NEC.

 

I trust this keeps you fully advised and as always the union will remain vigilant and will heavily monitor this situation to ensure the safe guarding of our members. I will update you all once I have received further information or on any further developments.

 

Yours Sincerely,

 

RMT Union