G4S plc (GFS.L,GFSZY.PK) announced it has agreed to acquire Deposita Systems Pty Ltd together with certain related intellectual property rights. Deposita is the South African market leader in cash devices and related cash-in-transit, cash processing and insurance for the retail sector. G4S said the acquisition will significantly strengthen its position in the South African retail cash technology marketplace.
The acquisition is to be undertaken by G4S Cash Solutions Proprietary Limited, a provider of cash solutions in South Africa, from AFGRI Operations Pty Ltd, a wholly owned subsidiary of AFRGI Limited, and Fox Business Trust.
Upon completion, G4S will own 87% of the shares in Deposita and pay total consideration of 8.2 million pounds post debt restructuring.
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by RTT Staff Writer
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