Security firm G4S is preparing to sell a large part of its Danish operations in a deal that is expected to be worth more than 1 billion Danish crowns ($174.13 million), Danish financial daily Borsen, writes Reuters. The paper said several private equity firms were interested in the deal, writes Reuters.
Reuters – Security firm G4S is preparing to sell a large part of its Danish operations in a deal that is expected to be worth more than 1 billion Danish crowns ($174.13 million), Danish financial daily Borsen said on Monday.
Borsen cited banking and legal sources familiar with the matter as saying that G4S was close to a sale of its alarm centres in Denmark, but would keep its Danish uniformed guards business.
“G4S has not been able to earn decent money from the infrastructure part (of the business) in Denmark so now they are selling it,” a source representing a potential buyer told the newspaper.
The paper said that several private equity firms were interested in the operations that G4S was selling.
The paper said the sale would be similar to divestments of operations in Norway, Poland and Sweden that G4S has carried out after the company failed last year to acquire Danish outsourcing firm ISS in a 5.2 billion pounds ($8.4 billion) deal.
In March, G4S said it would return to targeting emerging markets, including Brazil, China and India, following the failed ISS takeover attempt. ($1 = 5.7429 Danish crowns) ($1 = 0.6212 British pounds) (Reporting by John Acher; Editing by Helen Massy-Beresford)