Rentokil Initial JV with Germany's Haniel gets EC clearance

Rentokil Initial's joint venture with Germany's Haniel has been given unconditional clearance by the European Commission.

Rentokil announced its agreement to merge its Workwear and Hygiene divisions with Haniel in December last year.

The joint venture will bring together Rentokil Initial's Workwear and Hygiene businesses in 10 countries principally in the Benelux and Central & Eastern Europe regions, with Haniel's businesses in 17 countries which operate under the CWS-boco brand. The deal will be carried out by the transfer of the Rentokil businesses into CWS-Boco.

The deal is expected to close on or around 30 June.

At 1226 BST, Rentokil shares were up 1.9% to 281.60p.