G4S: Brink's deal on track
(CercleFinance.com) - G4S said it has now completed and received just over half of the expected proceeds from the sale of its conventional cash businesses to Brink's.
Under the deal, the British security firm has sold the majority of its conventional cash businesses for an enterprise value of 727 million pounds, with expected net cash proceeds of approximately 670 million pounds.
The large majority of the remaining completions are scheduled to occur in 2020, G4S said.
In February, Brink's announced the acquisition of G4S' cash operations in 17 markets, with closings planned in several phases throughout 2020.
The G4S share is currently up over 10% on the London Stock Exchange.
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