EU approval for staffing firm Randstad’s USG deal
10 June 2013
Staffing giant Randstad has been given final approval from the European Commission to acquire part of the operations of recruiter USG People, as proposed in early April.
Mon, 10 Jun 2013Staffing giant Randstad has been given final approval from the European Commission to acquire part of the operations of recruiter USG People, as proposed in early April.
The deal for the temporary staffing activities of USG in some European countries is now likely to go ahead towards the end of the current month, both parties report.
As reported by Randstad on announcing the planned takeover, the new operations should add €434m (£370m) of revenue for an acquisition cost of €20m.
USG says that the deal will allow a “more concentrated positioning [which] will strengthen the organisation's focus”, and has already announced plans for new and rebranded professional recruitment operations. However, it also announced in its Q1 2013 financial report that the only segment of its business showing growth was one of those due to be sold to Randstad.
The deal for the temporary staffing activities of USG in some European countries is now likely to go ahead towards the end of the current month, both parties report.
As reported by Randstad on announcing the planned takeover, the new operations should add €434m (£370m) of revenue for an acquisition cost of €20m.
USG says that the deal will allow a “more concentrated positioning [which] will strengthen the organisation's focus”, and has already announced plans for new and rebranded professional recruitment operations. However, it also announced in its Q1 2013 financial report that the only segment of its business showing growth was one of those due to be sold to Randstad.
