Accord Announced: ADECCO's Successful Tender Bid for ALTEDIA in France
The Adecco Group, based in Zurich, Switzerland, and the world's leading provider of HR solutions, announced a share capital reduction in June 2015. According to documents published in the Swiss Commercial Gazette on July 1, 2015, the reduction was registered with the Commercial Register on June 26, 2015.
The reduction resulted in the cancellation of 4,606,873 shares, which were acquired under the group's share buyback programmes. The company's share capital now amounts to CHF174,474,937, divided into 174,474,937 registered shares with a nominal value of CHF 1.- each.
The exact reason behind the share capital reduction is not publicly detailed in the available documents. However, share capital reductions are often part of a company's capital management strategy to optimize its capital structure, improve return on equity, or eliminate treasury shares. The practice is common among Swiss companies, as indicated by Swiss-based companies like Swiss Re.
Adecco Group's share capital reduction could have been a strategic move to return capital to shareholders, write off losses, or prepare for future capital increases with new shares. The group, a Fortune Global 500 company, offers a wide variety of services, connecting more than 650,000 associates with clients every day.
For further information about the share capital reduction, shareholders and interested parties can contact the Corporate Investor Relations at [email protected] or call +41 (0) 44 878 89 89. The Corporate Press Office can be reached at [email protected] or by phone at +41 (0) 44 878 87 87.
The Adecco Group, with more than 31,000 FTE employees and around 5,100 branches in over 60 countries and territories around the world, continues to be a significant player in the HR solutions industry. The company's services fall into the broad categories of temporary staffing, permanent placement, career transition and talent development, as well as outsourcing and consulting.
The Adecco Group, after the share capital reduction announced in June 2015, released CHF174,474,937 for further use, having cancelled 4,606,873 shares. This reduction might have been a strategic move to improve the return on equity, eliminate treasury shares, or return capital to shareholders, as share capital reductions often are. Adecco Group, a leading provider of HR solutions, continues to offer a wide variety of services including temporary staffing, permanent placement, career transition and talent development, outsourcing, and finance consultation, connecting over 650,000 associates with clients daily. For more information about the share capital reduction, shareholders and interested parties can contact the Corporate Investor Relations at [email protected] or call +41 (0) 44 878 89 89. With around 5,100 branches worldwide, Adecco Group remains a significant player in the business and HR solutions industry.
