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G4S: 75% of proceeds from cash unit sale now received

( - British security contractor G4S said that it has now received approximately 75% of the proceeds anticipated from the sale of its conventional cash businesses to US rival Brink's.

Under the agreement announced in February, G4S has agreed to sell the majority of the unit based on an enterprise value of 727 million pounds, with expected net cash proceeds of approximately 670 million pounds.

With around 500 million pounds of disposal proceeds having been received, G4S said it has liquidity resources of 1.1 billion pounds.

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