Britain's Rentokil said the joint venture would see it transfer its workwear and hygiene operations in 10 countries across the Benelux and Central and Eastern Europe regions to Haniel's CWS-boco brand, which operates in 17 countries.

Rentokil, which also provides pest control services, said it would receive around 520 million euros (437.76 million pounds) in cash and a stake of about 18 percent in the joint venture.

(Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)