Vestis to Sell Japan Venture Stake to Mitsui for $37 Million

Dow Jones2024-09-30

By Colin Kellaher

Vestis has agreed to sell its 39% stake in $Aramark(ARMK-W)$ Uniform Services Japan to majority owner Mitsui for about $37 million.

Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal.

Aramark Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 30, 2024 06:42 ET (10:42 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2471287047?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2024-09-30 18:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2471287047","market":"nz","top_or_hot":-1,"title":"Vestis to Sell Japan Venture Stake to Mitsui for $37 Million","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Vestis has agreed to sell its 39% stake in $Aramark(ARMK-W)$ Uniform Services Japan to majority owner Mitsui for about $37 million. \n</p>\n<p>\n  Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/ARMK\">Aramark</a> Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 30, 2024 06:42 ET (10:42 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vestis to Sell Japan Venture Stake to Mitsui for $37 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVestis to Sell Japan Venture Stake to Mitsui for $37 Million\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-09-30 18:42</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Colin Kellaher \n</p>\n<pre>\n \n</pre>\n<p>\n  Vestis has agreed to sell its 39% stake in $Aramark(ARMK-W)$ Uniform Services Japan to majority owner Mitsui for about $37 million. \n</p>\n<p>\n  Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/ARMK\">Aramark</a> Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 30, 2024 06:42 ET (10:42 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2471287047","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2471287047","pubTimestamp":1727692920,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Vestis has agreed to sell its 39% stake in Aramark Uniform Services Japan to majority owner Mitsui for about $37 million.Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal.Aramark Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Vestis将以3700万美元的价格向三井物产出售Japan Venture股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MITSY":0.9,"VSTS":0.9},"content_text":"By Colin Kellaher \n\n\n \n\n\n  Vestis has agreed to sell its 39% stake in $Aramark(ARMK-W)$ Uniform Services Japan to majority owner Mitsui for about $37 million. \n\n\n  Vestis on Monday said it will use proceeds from the sale to repay debt, adding that it doesn't expect to record a material gain or loss as a result of the deal. \n\n\nAramark Uniform Services Japan is a provider of uniform rental services that was established in 1988 as a venture among a group of companies including Vestis' former parent Aramark, which spun off the Roswell, Ga., provider of uniforms and workplace supplies last year. \n\n\n \n\n\n  Write to Colin Kellaher at colin.kellaher@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 30, 2024 06:42 ET (10:42 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.2","shortVersion":"4.33.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2471287047"}