Acquisition
19 May 2003 - 6:24PM
UK Regulatory
RNS Number:2435L
Mentmore PLC
19 May 2003
FOR IMMEDIATE RELEASE 19 MAY 2003
MENTMORE plc
IRON MOUNTAIN EUROPE SUBMITS A MERGER NOTICE TO THE OFFICE OF FAIR TRADING IN
THE UNITED KINGDOM
Mentmore plc ("Mentmore") announces that its records management joint venture
company Iron Mountain Europe Limited ("IME") has submitted an indicative offer
to purchase Hays IMS and, following an invitation by Hays plc, it intends to
participate with other short-listed parties in the second stage of the sale
process. IME is today submitting a Merger Notice to the Office of Fair Trading
pursuant to the Fair Trading Act 1973. The submission of this notice represents
the first stage for IME in obtaining merger clearance in the UK for the
potential acquisition of Hays IMS. For the avoidance of doubt, IME has not been
selected as the preferred purchaser and has not entered into any agreement with
Hays plc for the purchase of Hays IMS.
In accordance with certain agreements surrounding the sale process, no further
comment will be forthcoming from Mentmore, IME, or Iron Mountain Incorporated.
Enquiries:
Mentmore plc 020 8946 3159
Martin Nye, Group Chief Executive
Buchanan Communications 020 7466 5000
Charles Ryland/Catherine Miles
NOTES TO EDITORS:
Mentmore currently comprises:
Personal storage
The group has 46 centres in the UK and 7 centres in Paris providing self-managed
storage units for over 11,000 personal customers and small and medium-sized
businesses on flexible terms.
Serviced business space
The group has 218 serviced business space centres offering trading, office and
retail space on flexible terms to over 5,000 businesses of all kinds. The Board
has previously announced that it proposes to dispose of this business.
Records management
Our records management business, Iron Mountain Europe ("IME") is a partnership
with Iron Mountain Incorporated, the world's leading records management company.
It services customers across Europe. Mentmore owns 49.9% of the equity of IME.
This information is provided by RNS
The company news service from the London Stock Exchange
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