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CTAS > SEC Filings for CTAS > Form 8-K on 5-May-2014All Recent SEC Filings

Show all filings for CINTAS CORP

Form 8-K for CINTAS CORP


Other Events

Item 8.01. Other Events.
As previously disclosed, on March 18, 2014, certain subsidiaries of Cintas Corporation ("Cintas") entered into an agreement (the "JV Framework Agreement") with the shareholders of Shred-it International Inc. ("Shred-it") to combine the document destruction, recycling and ancillary services businesses of Cintas and Shred-it (the "Transaction"). The Transaction closed on April 30, 2014. Pursuant to the terms of the JV Framework Agreement, each of Cintas and Shred-it contributed substantially all of its equity interests in, and the assets of, its document destruction, recycling and ancillary services business to a newly formed joint venture limited partnership (the "JV Partnership") in exchange for an approximate 42% and 58% equity interest in the JV Partnership, respectively. Furthermore, in connection with the closing of the Transaction, Cintas received a cash payment of approximately $180 million.

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