Regulatory News:
Sodexho Alliance (PARIS:SW) (OTCBB:SDXAY) announced today that it
has signed an agreement to acquire the Service Vouchers and Cards
activities of the VR Group in Brazil. Consideration for the
transaction, which is determined on a debt free basis, is 1 billion
Brazilian reals, or approximately 380 million euros. The transaction
remains subject to various conditions, including regulatory matters.
Group VR is Brazil's third largest issuer of Service Vouchers and
Cards. Created in 1977, VR has developed an expanded offer of services
in the area of human resources and quality of life services. This
acquisition enables Sodexho to reinforce its position in Food Pass and
Restaurant Pass offerings as well as extend services such as transport
and fleet maintenance. The combined business intends to develop card
activities using Group VR's acceptance network.
The complementarities of the business portfolios, particularly in
cards, will provide Sodexho Service Vouchers and Cards in Brazil with
new development opportunities in the dynamic Brazilian market. Brazil
has significant market potential with strong future growth prospects.
Over the last two years, Sodexho Service Vouchers and Cards in Brazil
has seen average annual growth of its issue volume of around 10%.
Upon completion of this acquisition, Sodexho Service Vouchers and
Cards in Brazil will have an issue volume of 2.3 billion euros, a
portfolio of 40,000 clients with a strong competitive position in the
market for small and medium sized companies and 5 million
beneficiaries.
SODEXHO ALLIANCE, founded in 1966 by Pierre Bellon, is the leading
global provider of Food and Facilities Management services, with more
than 332,000 employees on 28,300 sites in 80 countries. For Fiscal
2006, which closed August 31, 2006, SODEXHO ALLIANCE had sales of 12.8
billion euro. Listed on Euronext Paris, the Group's current market
capitalization is more than 7.3 billion euro.