Kelly To Sell European Staffing Business To Gi Group For Up To EUR 130 Mln

(RTTNews) - Kelly (KELYA, KELYB) agreed to sell its European staffing business to Gi Group Holdings S.P.A. for cash consideration of up to 130 million euros.

The transaction is expected to close in the first quarter of 2024.

As per the terms of the deal, Kelly will transfer its European staffing business within its International operating segment to Gi. Kelly provides staffing services to customers in 14 countries across Europe. The company will retain its managed service provider, recruitment process outsourcing, and functional service provider (FSP) business with customers in the Europe, Middle East, and Africa (EMEA) region.

Following the close of the deal, Kelly will maintain its global footprint and continue to provide MSP, RPO, and FSP solutions to customers in the EMEA region through KellyOCG, Kelly's outsourcing and consulting group.