Reuters: Private Equity: UPDATE 1-G4S says investigating Danish divestment

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UPDATE 1-G4S says investigating Danish divestment May 14th 2012, 12:42 Mon May 14, 2012 8:42am EDT * G4S says eyeing possible sale of Danish business * Says talks with potential buyers at very early stage * Says no guarantee a transaction will take place COPENHAGEN, May 14 (Reuters) - British security firm G4S said on Monday it was exploring various alternatives for its Danish operations, including a possible divestment, but talks with potential buyers were at a very early stage. The London- and Copenhagen-listed company's statement followed a report in Danish financial daily Borsen that G4S was preparing to sell a large part of its Denmark business in a deal that would be worth more than 1 billion crowns ($174.13 million). "We can confirm that we are investigating a number of options for our Danish business, one of which could include a divestment - the decision to divest of any part of the business would be based on our ability to achieve the appropriate value," G4S said in a brief email statement. "Discussions with potential acquirers are at a very early stage and therefore we are unable to discuss any further details," G4S said. "There is no guarantee that a transaction will proceed." Borsen said a number of private equity investment groups were looking at the Danish operations that G4S was selling, which it identified as the alarm centres. The paper said that G4S planned to retain the armed guards business in Denmark. G4S failed last year in its 5.2 billion pounds ($8.37 billion) attempt to acquire Danish outsourcing group ISS after shareholders opposed the deal. In March, G4S said it would return to targeting emerging markets, including Brazil, China and India, after the ISS takeover failed. G4S' London-listed shares traded down 0.5 percent by 1229 GMT, but its Copenhagen shares were up 0.6 percent. Link this Share this Digg this Email Reprints

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