G4S agrees to sell South African cash solutions business to Izi Africa, retains Deposita
G4S is selling its SA cash-in-transit arm to Izi Cash affiliate Izi Africa while keeping Secure Solutions and Deposita - a reshaping of the local cash-logistics market.
G4S International Holdings entered a definitive agreement on 13 January 2025 to sell G4S Cash Solutions (SA) to Izi Africa, Engineering News reported.
Izi Africa is an affiliate of Izi Cash, an established South African cash-in-transit and cash management company. The transaction is subject to customary regulatory approvals.
G4S retains and plans to grow its G4S Secure Solutions security business and its Deposita payment technology business, both in South Africa and across Africa.
G4S's regional headquarters for Africa will remain based in South Africa, where the group says it has been a major investor since 1994.
G4S said the deal provides a sustainable future for the cash business and significant benefits for employees, customers and suppliers. ENS acted as legal advisor and DG Capital as financial advisor.
Source: Engineering News, 13 January 2025 - engineeringnews.co.za (company statement: g4s.com)
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