MITIE Group PLC Property Management business - update (4215Y)

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RNS Number : 4215Y

MITIE Group PLC

05 December 2017

05 December 2017

Mitie Group plc

LEI number: 213800MTCLTKEHWZMJ03

Property Management business - update

Mitie Group plc today confirms that it has withdrawn from sale its Property Management business. The Mitie Board considered all indicative offers received for this profitable business, and concluded that none were at a sufficient level with which to proceed. The decision to retain Mitie Property Management provides clarity of ownership and reflects the Board's view that there is greater shareholder and strategic value in keeping the business. The Property Management team can now fully focus on continuing to deliver for its customers and on its own operational and financial performance.

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For further information, contact:

Tori Cowley

Director of Investor Relations & Corporate Affairs

T: [phone] M: [phone] E: [e-mail]

Peter Dickinson

General Counsel and Company Secretary, Mitie Group plc

T: [phone] M: [phone] E: [e-mail]

Notes for editors

About Mitie Group

Mitie is a FTSE 250 business providing a wide range of facilities management and professional services, from real estate consultancy, project management, energy consultancy, compliance, risk assessment and security systems to cleaning, catering, engineering, technical and environmental services and a range of specialist services.

We work in partnership with organisations to deliver long-term savings, managing and maintaining some of the nation's most recognised landmarks for a range of blue-chip public and private sector customers.

We are the UK's largest Facilities Management company employing some 53,000 people across the country.

Find out more at www.mitie.com

This information is provided by RNS

The company news service from the London Stock Exchange

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December 05, 2017 05:13 ET (10:13 GMT)