April 24, 2019 / 5:47 AM / 4 months ago

Catering group Elior gets 1.54 bln euro offer from PAI for its Areas arm

PARIS, April 24 (Reuters) - French catering company Elior said it had received a firm offer of 1.542 billion euros from private equity firm PAI Partners for its ‘Areas’ concession catering business, as Elior sells off non-core assets to improve its performance.

Elior said it expected to close the sale during this summer, and added it would use the proceeds of the deal to cut its debt.

Elior, which competes with Sodexo and Compass , has embarked on an overhaul of its business after issuing several profit warnings in recent years. (Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)

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