logo
Plus   Neg
Share
Email

G4S To Sell G4S Sweden To Sector Alarm For SEK 438 Mln - Quick Facts

UK-based private security firm G4S Plc.(GFS.L, GFSZY.PK) said Thursday that it agreed to sell G4S Sweden to Sector Alarm for a total consideration of 438 million Swedish kronor, including cash and debt, or 37.4 million pounds at current exchange rates.

G4S Sweden provides manned security and security systems to customers across Sweden.

Ashley Almanza, G4S Group Chief Executive said, "The sale of our business in Sweden is part our active portfolio management programme which we announced in November last year to improve our strategic focus, capital discipline and returns."

The completion of the transaction is subject to customary closing conditions and regulatory approvals.

G4S noted that it will work closely with customers, employees and employee representatives to ensure a smooth transition once the necessary approvals have been obtained.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Guitar Center Inc., a retailer of musical instruments, lessons, repairs and rentals, has filed for Chapter 11 bankruptcy reorganization, aiming to significantly reduce its debt and continue its business amid ongoing struggles following the coronavirus pandemic. The company, which operates nearly 300 stores across the U.S., expects to complete the process before the end of this year. Amazon is offering new "Spoiler Free" ways to keep gifts a surprise, as well as to track, receive and pick up orders this holiday season. According to the company, the new features would help customers to face the challenge of keeping those special gifts under wraps as many families are opting to stay home amid the coronavirus pandemic. AstraZeneca Plc and Oxford University's coronavirus vaccine candidate AZD1222 is found to be 70 percent effective on average against Covid-19, according to the British pharmaceutical giant. AstraZeneca plans to immediately prepare regulatory submission of the data to worldwide authorities for conditional or early approval. The company will also ask for an Emergency Use Listing from the WHO.
Follow RTT