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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  G4S plc    GFS   GB00B01FLG62

G4S PLC (GFS)

Delayed Quote. Delayed  - 06/24 05:35:29 pm
173.5 GBp   -4.04%
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G4S plc : Proposed Divestment of G4S Government Solutions, Inc. (USA)

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03/05/2013 | 01:52pm CEST

G4S, the international security solutions group, today announces that, following a strategic business review, it has decided to divest its US Government Solutions business

G4S Government Solutions, Inc. provides security, fire protection, facilities management, training and mine clearance services to US Government organisations including the Departments of Energy, Homeland Security and Defense in addition to international organisations such as NATO and the United Nations, both within the United States and overseas.

G4S Government Solutions operates sensitive Government contracts requiring high level security clearances and is therefore managed under a proxy board structure in order to comply with US national security regulations. The company believes that an alternative parent would be able to create or add more value to the business than G4S. As a non-US parent, with restricted access to important commercial data, our ability to manage the business and share best practice is severely limited.

In 2012, G4S Government Solutions, Inc. had annual revenues of around £400 million.

G4S will retain its highly-regarded US commercial security business which provides a broad range of security services and technology to commercial companies and Government departments at a Federal, State and local level, where high level security clearances are not required. The revenues of this business, combined with G4S' other ongoing US operations totalled around £1.2 billion in 2012.

Houlihan Lokey has been appointed to manage the divestment process and it is expected that the transaction will be completed within the next six months, subject to all necessary approvals.

Contact details
  • Helen Parris (Director of Investor Relations) : +44 (0) 1293 554400
Media Enquiries
  • Adam Mynott (Director of Media Relations) : +44 (0) 1293 554400
About G4S

G4S is the world's leading secure outsourcing group, specialising in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat.

G4S is the largest employer quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S has operations in more than 125 countries and over 657,000 employees.

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