UPDATE 1-Randstad sells Portugal unit to Kelly Services

Fri Jul 11, 2008 7:29am BST
 
Email | Print | | Single Page
[-] Text [+]

AMSTERDAM, July 11 (Reuters) - Dutch staffing company Randstad NV (RAND.AS) has agreed to sell a unit in Portugal to Kelly Services Inc (KELYA.O).

Randstad said on Friday the decision to sell the Randstad business in Portugal was made to get European Union clearance for the 3.2 billion euro ($5 billion) acquisition of Dutch rival Vedior.

"The other activities in Portugal which are now part of the Randstad Group as a result of the acquisition of Vedior N.V., notably the Select and Vedior activities and their associated entities, are not part of this transaction and will not be sold," Randstad said in a statement.

Financial details were not disclosed.

Randstad, the world's no. 2 staffing firm after Switzerland's Adecco (ADEN.VX), said the Portuguese unit had 2007 revenue of 47 million euros and the divestment would not have a material impact on the group's full-year net profit. (Reporting by Niclas Mika; editing by Sue Thomas)

 

Most Popular General News on Reuters UK

  • Articles
  • Videos