in Security

G4S completes sale of conventional cash businesses to Brink’s

Posted 21 April 2020 · Add Comment

G4S today announced that it has now completed the sale of its conventional cash businesses to The Brink’s Company (Brink’s) that was announced on 26th February 2020.


Courtesy G4S

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 conventional cash businesses greatly enhances the Group’s strategic, commercial and operational focus and strengthens further its financial position.

As reported in our 2019 annual results, as at 31st 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 31st December 2019 of which only £56 million is scheduled for repayment in 2020.

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

EasyJet to resume flying from 15th June

EasyJet’s has announced plans to resume some flights from 15th June, including the airline's daily services between Glasgow, London Gatwick and Belfast airports and resume flights across its European network in France from Nice,

£1m available to support MoD innovation priorities

Defence Innovation funding has been set aside for civil sector support of the innovation priorities of the UK Ministry of Defence (MoD).

WTTC launches safe travel protocols

The London headquartered World Travel & Tourism Council (WTTC) has today unveiled the second phase of measures to rebuild global consumer confidence to encourage the return of air travel and tourism.

Nasmyth CE attains JOSCAR accreditation

Nasmyth CE, a Trading Company of Nasmyth Technologies Ltd, has achieved JOSCAR Accreditation.

New report reveals UK as world leader in online safety innovation

A new report published yesterday, shows that the UK’s rapidly-growing safety tech sector is helping make the online world safer for millions of people.

HMS Queen Elizabeth steps closer to maiden operational deployment

HMS Queen Elizabeth is one step closer to being able to deploy on global operations after completing the first stages of Operational Sea Training.

ODU 0201311219
See us at
SMI favws BT0602040620DVD 2020