ISS eyes float with €500m investment

DANISH cleaning giant ISS yesterday accepted a €500m (£391m) investment from Ontario Teachers’ Pension Plan and KIRKBI Invest, the trust owned by the descendents of Lego’s founder.

ISS will use the funds to pay down debts ahead of a planned IPO in the next few years, having abandoned an attempt to float in March 2011.

The investors paid 105 Danish kroner per share for new equity, gaining 26 per cent ownership.

This will be embarrassing for Nick Buckles, the boss of UK firm G4S, who last year offered a hefty 130 Danish kroner per share to take over ISS, only to abandon the bid following shareholder protests.