Proposed sale of G4S Norway
G4S, the leading global security and outsourcing group, announces that it has agreed the sale of G4S Norway to Nokas AS for a total consideration of £30.5 million (NOK 290 million at current exchange rates), including associated cash and debt. G4S Norway provides security and security systems to customers across the country.
Commenting on the proposed divestment, G4S Group Chief Executive Ashley Almanza said:
“The sale of our business in Norway is part of our on-going portfolio rationalisation programme which is designed to improve our strategic focus and our returns. We believe that this transaction creates a sustainable business in Norway and will deliver the best long-term outcome for customers, employees and other key stakeholders.”
G4S will work closely with customers and employees and their representatives to ensure a smooth transition once the necessary approvals have been obtained.
The completion of the transaction is subject to customary closing conditions and regulatory approvals.