Business as usual at G4S following American takeover
Following the successful acquisition of G4S by Allied Universal on 6th April, the takeover is not expected to result in any structural or operational changes in G4S Group subsidiaries, including G4S Botswana.
In a recent notice to shareholders, the public listed G4S Botswana notes the acquisition presents the opportunity to leverage the latest security technology to offer customers good service and value.
A global leader in security, with revenues of approximately US$18 billion, Allied Universal boasts operations in over 85 countries and a workforce exceeding 800, 000.
Founded in the USA in 1957, Allied Universal is described as the 3rd largest employer in North America and 7th largest globally.
G4S says the acquisition creates a world-leading integrated security company, providing an unrivaled breadth of capability for customers and new opportunities for the company’s teams around the world.
Two months back, the Competition and Consumer Authority (CCA) gave the transaction the green light. The Authority’s Chief Executive Officer (CEO), Tebelelo Pule said the transaction is not expected to change the market structure post-acquisition due to the absence of geographical overlap.
“The Authority does not envisage the proposed transaction to likely result in a substantial lessening of competition, nor endanger the continuity of service, in the relevant market in Botswana,” maintained Pule.
He further noted the acquired enterprise is not expected to attain any dominant position post-acquisition due to the absence of geographic overlap in the activities of the two entities.
As a result, the Authority unconditionally approved the proposed acquisition of the sole control of G4S PLC by Allied Universal.
