The Adecco Group has successful completed the divestment of Soliant Health to Olympus Partners. The company has said the sale is part of the Adecco Group’s strategy to concentrate on globally scalable brands and digital solutions.
Having received all necessary regulatory approvals, the Adecco Group completed the divestment of Soliant Health, a US-based healthcare staffing business, to Olympus Partners for a cash consideration of USD 612 million (EUR 551 million). The transaction will result in a gain on sale to be recognised in the Group’s Q4 & FY 2019 results. J.P. Morgan Securities LLC acted as exclusive financial advisor to the Adecco Group on the transaction.
Adecco will provide an update on the use of proceeds, in line with its capital allocation policy, with the release of the Q4 2019 results on 26 February 2020.