PEST control and hygiene firm Rentokil Initial continued its restructuring today by agreeing to sell its
conference venues business
for £325m.
The group, which recently reported a 21 per cent drop in quarterly profits and fended off a bid for control from Sir Geoffrey Robinson, has sold Initial Style Conferences business to a group of private investors.
The group, led by Richard Balfour-Lynn, chief executive of property investment group Marylebone Warwick Balfour, is expected to complete the deal in the next two weeks, according to a statement by Rentokil.
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