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Randstad N.V. — Capital/Financing Update 2006
May 10, 2006
3880_iss_2006-05-10_fe4c4b12-a36a-49de-9244-861af0823b32.pdf
Capital/Financing Update
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Randstad Holding nv Diemermere 25, Diemen P.O. Box 12600, NL-1100 AP Amsterdam z.o. randstad holding
Press release
Randstad acquires 47% stake in Talent Shanghai
Date May 10, 2006
More information Frans Cornelis/Lester Koele
Telephone +31 (0)20 569 56 23
Randstad Holding nv announces it has agreed with shareholders of the Chinese HR services company Talent Shanghai to purchase 47% of the company's shares, with the intention to acquire additional ownership in accordance with Chinese laws and policies in the near future. Talent Shanghai was supervised by the government and converted into an influential joint-venture player in the Chinese HR industry. Talent Shanghai delivers a complete range of human resource management services, including temporary staffing, payrolling, recruitment and executive search. Additional services offered include consulting, training and assessment. The transaction provides Randstad enhanced access to the Chinese market and fits with our overall growth strategy to establish a presence in Asia.
"We are excited to cooperate with Talent Shanghai, one of the few licensed companies to offer staffing and HR services in China, and the third player in the Shanghai region", says Ben Noteboom, CEO of Randstad Holding.
"Obviously China is a market with major opportunities within its own dynamic business environment, which is structured differently from that in Europe or the USA. The expertise and network of Talent Shanghai will provide us access to this exciting market."
Talent Shanghai was founded by the Personnel Bureau of Shanghai (subsidiary of the Ministry of Personnel). Talent Shanghai operates from five offices (all in Shanghai region) and has a staff of 170 employees. Revenue 2005 amounted to € 50 million. For more information on Talent Shanghai, please visit www.talentshanghai.com/english/join/work.htm
The staffing and recruitment services market in China is rapidly developing, although still relatively small and highly regulated. The transaction with Talent Shanghai, will give us a thorough understanding of the local market, which is of crucial importance for a successful entry in China.
The deal will not lead to any material effect on Randstad's earning per share in 2006.
HR Amsterdam nr 33216172
randstad holding
Date
May 10, 2006
For more information
Frans Cornelis/Lester Koele
Page
2/2
Randstad Holding nv specializes in solutions in the field of flexible work and human resources services with group companies in Europe, North America and Asia. The Randstad Group is one of the largest temporary employment organizations in the world and market leader in the Netherlands, Belgium, Germany, Poland and the southeastern United States. Randstad is dedicated to matching at the right time, the demand by individuals for challenging and well-paid employment to the demand of organizations for employees of the right caliber and the right qualifications. The Group is active under the brand names Randstad, Yacht, Capac Inhouse Services, Tempo-Team, EmmayHR, Team4U, Martin Ward Anderson and Otter-Westelaken. Randstad Holding nv (Reuters: RAND.AS, Bloomberg: RAND NA) is listed on the Euronext Amsterdam exchange, where options for stocks in Randstad Holding are also traded. For more information about Randstad Holding see http://www.randstad.com.