logo
Share SHARE
FONT-SIZE Plus   Neg

G4S To Dispose US Government Solutions Business - Quick Facts

UK's private security firm G4S Plc (GFS.L, GFSZY.PK), following a strategic business review, has decided to divest its US Government Solutions business.

G4S Government Solutions Inc. provides security, fire protection, facilities management, training and mine clearance services to US Government organisations, including the Departments of Energy, Homeland Security and Defense in addition to international organisations like NATO and the United Nations, both within the U.S. and overseas. G4S Government Solutions' revenues totaled about 400 million pounds in 2012.

G4S hopes that an alternative parent would be able to create or add more value to the business than G4S. As a non-US parent, with restricted access to important commercial data, the company said its ability to manage the business and share best practice is severely limited.

G4S would retain its US commercial security business, that provides a broad range of security services and technology to commercial companies and Government departments at a Federal, State and local level, where high level security clearances are not required. The revenues of this business, combined with G4S' other ongoing US operations were around 1.2 billion pounds in 2012.

Houlihan Lokey was appointed to manage the disposal process and the transaction is likely to complete within the next six months.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Leaders of the Senate Health Committee revealed Tuesday they have reached an agreement on legislation to provide short-term stability to Obamacare. Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced the bipartisan agreement. Activist investor Rudolf Bohli is reportedly targeting Switzerland's second largest bank Credit Suisse. Bloomberg reported that Bohli has 0.2 percent stake in Credit Suisse that comes around 100 million francs or around $102 million. Australia's flag carrier Qantas Airways Ltd. on Tuesday took delivery of its first Boeing 787-9 Dreamliner aircraft, noting that the game-changing aircraft will open up new routes and new levels of comfort for travelers. The new aircraft will enable Qantas to operate Australia's first regular non-stop flights to Europe.
comments powered by Disqus
Follow RTT