G4S Sweden is sold for £37.4m

OUTSOURCING firm G4S yesterday announced that it had agreed to sell its business in Sweden to European security company Sector Alarm, for a total of 438m Swedish Krona (£37.4m).

Ashley Almanza, G4S chief executive, said: “The sale of our business in Sweden is part our active portfolio management prog­ramme which we announced in November last year to improve our strategic focus, capital discipline and returns.”

G4S Sweden has 3,400 employees, and had annual revenues in 2013 of nearly 1.3bn Krona (£107.8m).

G4S share price fell yesterday by 0.66 per cent to finish on 259.7p.

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