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Sodexo in talks with CVC on restaurant check business

by Mike Robinson

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© Reuters. FILEPHOTO: At the French company headquarters at Issy–les-Moulineaux, near Paris, France on November 30, 2018, you can see the logo of French food and facility management group Sodexo. REUTERS/Gonzalo Fuentes/

PARIS, (Reuters) –Sodexo is in talks with CVC, a buyout company, about a deal for its restaurant-check unit. French daily Les Echos, citing people familiar with the negotiations, reported Monday.

Sodexo, EPA:, is ready to sell 20-30% of the unit to CVC. The report stated that the value could reach as high as $4 billion ($4.3 billion).

The shares rose by around 4% to 75.2 euro each after the report, and the French blue-chip market index fell 1.3%. They had been up 1.8% at 1340 GMT.

According to the company’s half-year report, earlier this month the Russian division had been sold. The unit had seen organic sales increase of 9.3% over the same period at 398 million euro ($427 million).

Sodexo refused to comment, while CVC couldn’t immediately be reached.

($1 = 0.9326 euros)

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