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.
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