Gunnebo sells shareholding in associated company
Gunnebo Security Group has signed an agreement to sell its 30 per cent shareholding in the associated company Chubb Malaysia to Sime Darby Energy Sdn Bhd, a company under its Energy & Utilities division, who today owns the remaining 70 per cent.
Net purchase sum amounts to MEUR 2, and the divestment is expected to result in a small capital gain.
The transaction is pending on regulatory approvals, and is expected to be completed during the month of September, 2012.
“Chubb Malaysia is an important supplier of safes to Gunnebo and we will continue to have a business relation also going forward,” comments Gunnebo’s President & CEO Per Borgvall. “Malaysia is a very interesting market for as well physical security as for entrance control and cash handling and Gunnebo has the intention to establish an own Malaysian sales company in the near future.”
GUNNEBO AB (publ)
For further information, please contact:
Per Borgvall, President & CEO Gunnebo AB, tel. +46 10 2095 000, or
Karin Wallström, Communication Manager Gunnebo AB, tel. +46 10 2095 026, or e-mail
The Gunnebo Security Group provides efficient and innovative security solutions to customers around the globe. It employs 5 500 people in 31 countries across Europe, Asia, Africa, Australia and Americas, and has a turnover in excess of €540m. Gunnebo focuses its global offering on Bank Security & Cash Handling, Secure Storage, Global Services and Entrance Control.
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