Thursday, Jun 09, 2011
DOW JONES NEWSWIRES
Swedish security services group Securitas AB (SECU-B.SK) said Thursday it has agreed to acquire 50% plus one of the shares in security services company Al Sharika Al Muatfawika Likhadamat Al Amin Wa Al Himaya in Jordan.
MAIN FACTS:
-Enterprise value is estimated at SEK23 million.
-The seller is Jordanian Company JoSecure, fully owned by King Abdullah II Design and Development Bureau.
-The company has annual sales of approximately SEK20 million and approximately 800 employees, which makes it the second largest security services company in Jordan.
-The security services market in Jordan is very fragmented and is expected to grow fast.
-The company is geographically present all over Jordan with concentration in the cities of Amman and Aqaba.
-The company is mainly operating in the customer segments banks and financial institutes, real estate developers, communications companies and commercial entities.
-The acquisition is consolidated in Securitas AB as of Jun. 1, 2011.
-At 1203 GMT shares traded 0.5% lower at SEK63.90.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com
(END) Dow Jones Newswires
09-06-11 1209GMT
