​Chandler Macleod Group Limited enters into scheme implementation deed with Recruit Holdings Co., Ltd.

As announced to the ASX overnight, we are excited to advise that following careful consideration by both organisations, Chandler Macleod Group and Recruit Holdings (“Recruit”) have entered into an agreement regarding the proposed acquisition of Chandler Macleod Group by Recruit. The acquisition will take place through a Scheme of Arrangement (“Scheme”), whereby, subject to certain conditions being met, including shareholder and Court approval, Recruit is expected to acquire the shares in Chandler Macleod Group by mid April 2015, and Chandler Macleod will become a wholly-owned subsidiary of Recruit.

Founded in 1960 and headquartered in Tokyo, Recruit is currently the largest staffing company in Japan and one of the leading staffing companies globally. Recruit is about more than just recruitment: they are a global HR, staffing, marketing, media and technology leader, operating in 10 key categories. Recruit has approximately 30,000 permanent employees and operates from nearly 900 locations in 20 countries and markets. Recruit recently completed its IPO on 16 October 2014, and is now listed on the Tokyo Stock Exchange.

As Chandler Macleod aspire to be Australasia’s leading provider of integrated HR Services, Products & Technologies, teaming up with Recruit enables us to achieve our growth and transformation aims, and be a global leader. This proposal is also consistent with Recruit’s long term strategic objective of becoming the world’s no. 1 global integrated HR service provider.

The acquisition via Scheme Arrangement will take about 90 days to complete. Until then, it is business as usual; there will be no immediate change in the business and no impact for our clients, candidates and employees.