AMSTERDAM (FD.nl/Betten) - Hier volgt een persbericht uitgegeven door Randstad:
Randstad increases ownership in Talent Shanghai to 70%
Randstad Holding nv announces it has acquired an additional 23% of the capital of the Chinese HR services provider Talent Shanghai. After acquiring a 47% stake in May 2006, Randstad now owns 70% of the capital. The transaction provides Randstad enhanced access to the Chinese market and fits with our overall strategy to establish a growing presence in Asia.
Talent Shanghai was founded by the Personnel Bureau of Shanghai (subsidiary of the Ministry of Personnel) and delivers a complete range of human resource management services, including payrolling, recruitment, executive search, and graduate placement services. Talent Shanghai is chief secretary of the largest and most influential HR Outsourcing alliance with a network covering 105 cities in China.
Talent Shanghai operates from three offices (all in the Shanghai region) and has a staff of 160 employees. 25,000 employees of mostly large banks and telecom providers are being pay-rolled on a monthly basis. In 2006, revenue was 50 million.
The staffing and recruitment services market in China is still relatively small and highly regulated but developing rapidly. Talent Shanghai complements Randstad's current Search & Selection activities in Shanghai and Suzhou.
From now on Talent Shanghai will be consolidated at group level instead of being accounted for as non-consolidated associate. The deal will not have any material effect on Randstad's earnings per share in 2007.
(c) Het Financieele Dagblad in samenwerking met Betten Beursmedia News (contact: webred@fd.nl/ 020-5928456)
Randstad increases ownership in Talent Shanghai to 70%
Randstad Holding nv announces it has acquired an additional 23% of the capital of the Chinese HR services provider Talent Shanghai. After acquiring a 47% stake in May 2006, Randstad now owns 70% of the capital. The transaction provides Randstad enhanced access to the Chinese market and fits with our overall strategy to establish a growing presence in Asia.
Talent Shanghai was founded by the Personnel Bureau of Shanghai (subsidiary of the Ministry of Personnel) and delivers a complete range of human resource management services, including payrolling, recruitment, executive search, and graduate placement services. Talent Shanghai is chief secretary of the largest and most influential HR Outsourcing alliance with a network covering 105 cities in China.
Talent Shanghai operates from three offices (all in the Shanghai region) and has a staff of 160 employees. 25,000 employees of mostly large banks and telecom providers are being pay-rolled on a monthly basis. In 2006, revenue was 50 million.
The staffing and recruitment services market in China is still relatively small and highly regulated but developing rapidly. Talent Shanghai complements Randstad's current Search & Selection activities in Shanghai and Suzhou.
From now on Talent Shanghai will be consolidated at group level instead of being accounted for as non-consolidated associate. The deal will not have any material effect on Randstad's earnings per share in 2007.
(c) Het Financieele Dagblad in samenwerking met Betten Beursmedia News (contact: webred@fd.nl/ 020-5928456)