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05/10/2011
Atkins To Sell Asset Management Business To Sodexo
Atkins is to sell its UK Asset Management business to Sodexo, a multi-national provider of on-site service solutions listed on the Paris Bourse for a cash consideration of £5 million payable on completion, together with a deferred conditional amount of £0.5 million.
David Tonkin, UK managing director, commented: "Our Asset Management business provides property management services which have operated alongside Atkins’ core businesses of engineering design consultancy. We have for some time believed that this business would be best developed through integration with a company dedicated to on-site service solutions. We are therefore delighted that Sodexo will continue to develop this business under its brand."
Sean Haley, who has led Atkins' UK Asset Management business for the past seven years, will become chief operating officer of Sodexo Corporate Services Integrated Facilities Management.
The transaction is due to be completed by the end of November.
(CD)
David Tonkin, UK managing director, commented: "Our Asset Management business provides property management services which have operated alongside Atkins’ core businesses of engineering design consultancy. We have for some time believed that this business would be best developed through integration with a company dedicated to on-site service solutions. We are therefore delighted that Sodexo will continue to develop this business under its brand."
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Sean Haley, who has led Atkins' UK Asset Management business for the past seven years, will become chief operating officer of Sodexo Corporate Services Integrated Facilities Management.
The transaction is due to be completed by the end of November.
(CD)
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