G4S PLC G4s Plc Uk Dk : Disposal

 
TIDMGFS 
 
 
   28 December 2016 
 
   G4S sells G4S Utility Services(1) for GBP52 million 
 
   G4S, the leading global integrated security company, announces today 
that it has completed the sale of G4S Utility Services, its UK 
multi-utility metering services business, to First Reserve, the majority 
shareholder in Morrison Utility Services Group, for GBP52 million paid 
in cash.  Proceeds from the sale will be used for general corporate 
purposes. 
 
   In the year to 31 December 2015, G4S Utility Services generated profit 
before taxation of GBP8 million.  At 31 December 2015 the business had 
gross assets of GBP48 million and net assets of GBP18 million. 
 
   As part of the transaction, senior management in G4S Utility Services 
will remain with the business at completion. 
 
   Commenting on the transaction, G4S Group Chief Executive, Ashley Almanza, 
said: 
 
   "The sale today of the utility business is part of the Group's portfolio 
management programme which is greatly improving the Group's strategic, 
commercial and operating focus. To date we have closed or concluded 
binding agreements to sell 32 businesses, with aggregate disposal 
proceeds of GBP433 million since the start of the programme in 2013." 
 
   This announcement contains inside information and the person responsible 
for making this announcement is Peter David, Company Secretary. 
 
   Note 1: G4S Utility Services comprises the following companies: G4S 
Utility and Outsourcing Services (UK) Limited; G4S Assessment Services 
(UK) Limited; G4S Locks & Alarms (UK) Limited. 
 
   Investor enquiries: 
 
   Helen Parris, Director of Investor Relations [phone] 
 
   Media enquiries: 
 
   [phone] 
 
   Notes to Editors: 
 
   About G4S plc 
 
   G4S is the leading global, integrated security company, specialising in 
the provision of security services and solutions to customers.  Our 
mission is to create material, sustainable value for our customers and 
shareholders by being the supply partner of choice in all of our 
markets. 
 
   G4S is quoted on the London Stock Exchange and has a secondary stock 
exchange listing in Copenhagen.  G4S is active in over 110 countries and 
has 600,000 employees.  For more information on G4S, visit www.g4s.com. 
 
   About G4S Utility Services 
 
   G4S Utility Services, headquartered in Newcastle, employs 2,500 people 
in data collection for a number of UK utilities, in addition to a range 
of smart metering services, including the installation and maintenance 
of smart meters.  The business, which makes some 60 million home visits 
a year, also includes a full suite of data flow systems capable of 
interfacing with all the major meter manufacturers. 
 
   G4S Utility Services also incorporates 16,500 commercial alarm contracts 
under the ProtectMyProperty.co.uk http://protectmyproperty.co.uk/ brand, 
and inspects over 11,000 hotels and guest accommodation properties 
within the provision of hotel quality assessment and compliance services, 
both of which will be included in the sale. 
 
   About First Reserve 
 
   First Reserve is a leading global private equity and infrastructure 
investment firm exclusively focused on energy. With over 30 years of 
industry insight, investment expertise and operational excellence, the 
Firm has cultivated an enduring network of global relationships and 
raised approximately USD $31 billion of aggregate capital since 
inception.  First Reserve has completed approximately 600 transactions 
(including platform investments and add-on acquisitions), creating 
several notable energy companies throughout the Firm's history. Its 
portfolio companies operate on six continents, spanning the energy 
spectrum from upstream oil and gas to midstream and downstream, 
including resources, equipment and services and infrastructure. Visit 
www.firstreserve.com for more information. 
 
   About Morrison Utility Services Group "MUS" 
 
   With history dating back to 1884 MUS serves blue-chip utility companies 
and electricity, gas, water and telecom providers throughout the UK. 
MUS's mission is to be the leading utility service provider by 
delivering a cost-effective quality service to its clients and 
continuously maintaining, renewing and upgrading essential UK utility 
infrastructure and networks. 
 
   The company has nearly 4,000 direct employees, with a focus on training 
and development programs to enhance expertise and dependability.  MUS 
was acquired by First Reserve, a global equity investment firm that 
specialises in energy and infrastructure investments in September 2016. 
For more information, please visit: https://www.morrisonus.com/ 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: G4S plc UK DK via Globenewswire 
 
 
  http://www.g4s.com/ 
 

(END) Dow Jones Newswires

December 28, 2016 07:24 ET (12:24 GMT)

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