Rentokil Initial (Initial Delta) - December 2007

On December 26, Rentokil Initial Plc completed the sale of Initial Delta S‚curit‚, its French electronic security business to United Technologies Corporation (UTC) for £83m (£116m). This business provides electronic security and fire safety solutions.

This disposal followed those of their UK, Dutch and US electronic security businesses to UTC in July 2007. The sale of their French business remained conditional upon French regulatory approval.

Rentokil Initial mandated Canaccord Genuity in November 2007 to organise a disposal process alongside Greenhill in the event of a refusal from the French authorities. However, the French Government gave its approval upon various concessions made by UTC.

Canaccord Genuity acted as financial advisor to Rentokil Initial Plc.