Mears to acquire Mitie's social housing division for £22.5m

Vicky Fordham-Lewis Mitie

Support services firm Mears Group has announced a share placement to raise funds for the £22.5m purchase of Mitie’s property management division.

The provider of support services to the housing and care sectors said it will place 6.78m new shares at a price of 331.5p to raise the capital to fund the acquisition.

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