Rentokil Initial Regulatory News (RTO)

29 Sep 2005 10:37

Rentokil Initial PLC29 September 2005 Update on potential disposal of Initial Style Conferences Rentokil Initial plc ("Rentokil" or the "Company") updates investors that theprocess to dispose of Initial Style Conferences Limited ("Style Conferences")announced on 25th August is continuing on track, and that the asset hasattracted a significant amount of initial interest from potential acquirors. After receiving more than 20 indicative bids based on confidential informationdistributed to a variety of qualified parties, the Company has significantlynarrowed the number of parties progressing to the next phase of the process.This will involve dissemination of further detailed information prior topotential acquirors submitting firm and binding offers for Style Conferences. Noparty indicating a bid at or below £300m is being taken through to the nextphase. Rentokil now expects to announce the conclusion of the process and the sale ofStyle Conferences by the end of November. The Company clarifies that there canbe no certainty as to the final outcome of any potential sale of StyleConferences. Further details will be provided in due course if appropriate. Enquiries: Rentokil Initial plc +44 (0) 1342 833022 Mark Boyle, Group Acquisitions Director Greenhill & Co. International LLP +44 (0) 20 7440 0400 Simon Borrows Edward Wakefield Brunswick Group LLP +44 (0) 20 7404 5959 John Sunnucks Gill Ackers Greenhill & Co. International LLP ("Greenhill & Co."), which is regulated by theFinancial Services Authority, is acting for Rentokil Initial plc in connectionwith its potential divestiture of Initial Style Conferences Limited and for noone else and will not be responsible to anyone other than Rentokil Initial forproviding the protections afforded to customers of Greenhill & Co. nor forproviding advice in relation to this potential transaction. This information is provided by RNS The company news service from the London Stock Exchange