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G4S Plc to Divest United States Government Solutions Business

Tuesday, 5 Mar 2013 07:00am EST 

G4S Plc announced that it has decided to divest its United States Government Solutions business. G4S Government Solutions, Inc. provides security, fire protection, facilities management, training and mine clearance services to United States Government organizations including the Departments of Energy, Homeland Security and Defense in addition to international organizations 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 United States national security regulations. The Company announced that it believes that an alternative parent would be able to create or add more value to the business than G4S. As a non-United States parent, with restricted access to important commercial data, the Company's ability to manage the business is limited. In 2012, G4S Government Solutions, Inc. had annual revenues of approximately GBP 400 million. G4S will retain its United States commercial security business which provides a range of security services and technology to commercial companies and Government departments at a Federal, State and local level. 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. 

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1.3 +0.47%
19 Dec 2014