Regulatory News:
Sodexo (PARIS:SW) (OTCBB:SDXAY), a world leader in Food and
Facilities Management services in most markets, today announced
completion of its acquisition of Grupo VR´s Service Vouchers and Cards
activity in Brazil. The total consideration for the transaction, on a
debt-free basis, is 1 billion Brazilian reais (approximately 405
million euro at current exchange rates). VR´s activity will be
consolidated in the Group´s financial statements for six months in
Fiscal 2008.
The complementary nature of VR´s business portfolio will open new
development opportunities for Sodexo Service Vouchers and Cards in the
very dynamic Brazilian market, the largest market worldwide in this
activity with strong potential for future growth. Sodexo´s issue
volume has been growing at an annual rate of approximately 10% for the
last two fiscal years in Brazil.
With this acquisition, Sodexo becomes the leader in Service
Vouchers and Cards in Brazil, with an issue volume of 2.4 billion euro
at current exchange rates, serving more than 50,000 clients, in
particular small and medium sized businesses, and reaching 5 million
beneficiaries.
The strong strategic fit and a shared spirit of service combined
with the potential for local synergies enable Sodexo to reaffirm its
confidence in the progression of operating margins in the Service
Vouchers and Cards activity over the next three years.
About Sodexo
SODEXO, founded in 1966 by Pierre Bellon, a world leader in Food
and Facilities Management services in most markets, with more than
342,000 employees on 29,000 sites in 80 countries. For Fiscal 2007,
which closed August 31, 2007, SODEXO had revenues of 13.4 billion
euro. Listed on Euronext Paris, the Group´s current market
capitalization is 5.9 billion euro.
