G4S sells German businesses

15.05.2008

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Security firm G4S has got shot of its German manned security and monitoring businesses.

The Group 4 Securicor company is selling G4S Sicherheitsdienste GmbH and G4S Alarm Solution GmbH to a subsidiary of Securitas AB for £27m in cash.

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The disposal follows an announcement earlier this week of plans to sell 127m new shares to reduce debt and fund expansion.

The fund raising plans accompanied an upbeat trading statement in which the company said its underlying performance is running slightly ahead of overall management expectations, aided by a small benefit from recent euro strength.

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G4S sells German businesses

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