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Progress on completion of conventional cash transaction

G4S, the leading global security company is pleased to report that it has now completed and received just over half of the proceeds anticipated from the sale of its conventional cash businesses to The Brink’s Company (“Brink’s”) that was announced on 26 February 2020.  
Cash Sorting

Under the agreement with Brink’s, the Group has sold the majority of its conventional cash businesses for an enterprise value of £727 million, with expected net cash proceeds of approximately £670 million. The substantial majority of the remaining completions are scheduled to occur during 2020.

The sale of the majority of the Groups conventional cash businesses greatly enhances the Group’s strategic, commercial and operational focus and strengthens further the Group’s financial position.

As reported in our 2019 preliminary annual results, as at 31 December 2019 the Group had substantial liquid resources of £1.3 billion comprising cash, cash equivalents and bank overdrafts of £0.5 billion and committed, unutilised credit facilities of £0.8 billion.  The Group had gross outstanding bank loans and loan notes of £2.3 billion as at 31 December 2019 of which only £56 million is scheduled for repayment in 2020.