G4S snaps up South African cash solutions group

Security firm G4S said this morning it would acquire South African company Deposita for £8.2m.

The London-listed firm will acquire an 87 per cent stake in the retail cash solutions company for ZAR114m (£8.2m) post debt restructuring.

The acquisition of Deposita, which was founded in 2004, will “significantly” strengthen G4S’s position in the South African retail cash marketplace, forecast to grow "rapidly" over the next three years, the blue chip company said this morning.