Mitie completed the acquisition of the support services arm of Interserve for £190m.

Mitie, an outsourcing company, completed the acquisition of the support services arm of Interserve, a services, maintenance and building group operating in the public and private sectors in the UK, for £190m ($338m), comprising £120m ($150m) in cash and a 23.4% shareholding in Mitie to be held by or on behalf of Interserve’s shareholders. “The proposed combination of Interserve Support Services with Mitie will create the UK’s leading facilities management company, with strong prospects in both the public and private sectors providing significant opportunities to employees, customers, and shareholders alike. The transaction, which is consistent with our stated strategy of realising value for our shareholders, will reduce the Group’s debts, enable a paydown to our shareholders and stabilise the Group’s financial position through the retention of a proportion of the proceeds," Alan Lovell, Interserve Chairman. The CMA started merger investigation on September 30, 2020. On November 4, 2020, they companies announced decreasing the deal value from £271m to £190m.