StockMarketWire.com - Security contractor G4S said it had sold the majority of its conventional cash handling businesses to The Brink's Company for £727m, including debt.

G4S would receive net cash proceeds of about £670m and assign around £60m of net liabilities to Brink's.

The businesses generated revenue in 2019 of £600m.

'This transaction represents an important milestone in the execution of our corporate strategy,' chief executive Ashley Almanza said.

'The sale of these conventional cash businesses simplifies the group and enables G4S to focus on the growth of our core integrated security solutions business and the further development of our rapidly growing cash and payment technology business.'

At 3:53pm: [LON:GFS] G4S PLC share price was +5.18p at 192.68p



Story provided by StockMarketWire.com