G4S buys 87% Deposita stake
Companies / 18 Dec '12, 4:26pm
Security firm G4S Cash Solutions had acquired a controlling stake in Deposita Systems for R114 million, after debt restructuring, G4S said on Friday.
G4S bought 87 percent of the business from Fox Business Trust and Afgri Operations, a unit of JSE-listed Afgri.
Deposita, founded in 2004 and based in Midrand, Gauteng, provides cash devices and related cash-in-transit, cash processing and insurance services for the retail sector.
The business employs 165 people.
G4S said the acquisition would strengthen its position in the retail cash technology market. – Asha Speckman