0913 GMT - Rentokil Initial's sale of its workwear division in France positions the company as a more streamlined business, JPMorgan analysts write in a research note. The group agreed to sell the division to H.I.G. Capital for around $464 million. The move is a long-awaited sale of a non-core asset, they say. Over recent years, the U.K. pest-control, hygiene and work-wear services provider has been reshaping its portfolio towards higher-growth markets, the analysts say. In 2015, Pest Control accounted for just 44% of group revenue; today it represents more than 80%, they add. Shares are up 0.7%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
May 28, 2025 05:13 ET (09:13 GMT)
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