G4S, the leading global security and outsourcing group, announces that it has agreed the sale of G4S Sweden to Sector Alarm for a total consideration of SEK 438 million (£37.4 million at current exchange rates) including cash and debt.
G4S Sweden provides manned security and security systems to customers across Sweden.
Commenting on the proposed divestment, 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.
We have implemented a number of operational improvements in G4S Sweden in the last 12 months, and this sale realises an attractive premium for shareholders while providing customers and employees with the prospect of a sustainable business in Sweden.”
The completion of the transaction is subject to customary closing conditions and regulatory approvals.
G4S will work closely with customers, employees and employee representatives to ensure a smooth transition once the necessary approvals have been obtained.