Securitas enters the security services market in Morocco
11/25/2009 3:00 AM EST
Securitas has agreed to acquire 75 percent of the shares in the security services company GMCE Gardiennage in Morocco. The purchase of the remaining 25 percent of the shares is agreed to take place in 2013 and will be based on the financial performance of the company until the year 2012. Enterprise value is estimated to approximately MSEK 22 (MEUR 2.1).
GMCE Gardiennage has 400 employees and annual sales of approximately MSEK 13
(MEUR 1.3). The company is providing security services all over the country, with half of the operations in the cities Casablanca and Rabat.
The security services market in Morocco is growing fast and is expected to become more regulated in the near future.
The acquisition is consolidated in Securitas AB as of December 1, 2009.
This press release is also available at:
www.securitas.comInformation:
Micaela Sjökvist, Head of Investor Relations, Securitas AB, phone +46 10 470 3013 or mobile +46 76 116 7443