G4S to buy Denmark's ISS in $8.2 b

G4S to buy Denmark's ISS in $8.2 b

G4S, already world’s biggest security company, would pay £1.53 billion — half in cash and half in shares — for the facilities management group. It will raise £2 billion to help fund the deal through a fully underwritten rights issue and assume ISS’s debt of £3.67 billion.

ISS is owned by Swedish private equity investor EQT and Goldman Sachs Capital Partners since 2007. G4S said the acquisition would enable it to move into a range of support services to complement its security operation. ISS offers facilities management services ranging from cleaning to catering and employs more than half a million workers worldwide.

Last year it reported earnings before interest, tax and amortisation (EBITA) of £481 million, on revenue of £8.5 billion.

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