Global services provider ISS has sold its second international business in as many months, offloading its operations in Israel to two different buyers.
The cleaning and catering businesses will be sold to T&M Protection Resources Holdings Israel Ltd, a local Facility Management company in Israel, while the inflight catering business will be sold to Newrest Group Holding S.A., a global provider of multi-sector catering.
The transactions are subject to normal closing conditions in Israel, including antitrust clearance, and are expected to be finalised later this year.
Last month ISS divested its activities in Estonia. The buyers of the business are Estonian and international private investors. At the time of the announcement ISS said it continue to support the global and regional key accounts in Estonia.
In December 2018 the global facilities services company announced its plan to axe 100,000 jobs and exit 13 emerging markets including Thailand, Philippines, Malaysia, Brunei, Brazil, Chile, Israel, Estonia, Czech Republic, Hungary, Slovakia, Slovenia and Romania.
These countries represent 12 per cent of the group’s revenue and 8 per cent of its operating profits.The process is expected to be completed by 2020, with the number of customers to be to reduce by 50 per cent (from 125,300 to around 62,700). The number of employees is expected to reduce by 20 per cent (from 490,000 to around 390,000).
ISS currently has employees and activities in more than 70 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers.
ISS has more than 12,000 employees across Australia and New Zealand. Last month ISS Australia was approved by national training regulator Australian Skills Quality Authority (ASQA) as a registered training organisation (RTO).
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at email@example.com.
Sign up to INCLEAN NZ’s newsletter.