COMPANY PRESS RELEASE: Securicor plc announces that it has aquired from Jardine Pacific Holdings Limited its entire 50% shareholding in JS Holdings Limited which, as a result, is now owned 100% by Securicor.
JSHL is the holding company of a number of operating subsidiaries specializing in the provision of Cash Management Services, ATM Management Services and Integrated Security Solutions in the Asia Pacific region, comprising companies in Brunei, China, Hong Kong, Indonesia, Macau, Malaysia, Taiwan and Thailand. It has market leading positions in most of these territories.
Securicor has paid US$33 million in cash for Jardines’ 50% shareholding.
The Jardine Securicor business employs over 14,000 staff. It had EBITA of US$2.6 million in the year to 30 September 2001 on turnover of US$118 million. Its net assets at 30 September 2001 were US$20.1 million.
Nick Buckles, Chief Executive of Securicor Security, said: This acquisition will help Securicor fulfil its aim of becoming one of the top three global security services companies. Since the JV with Jardine was formed in 1990, it has grown solidly, although profitability has in recent years been constrained by economic factors affecting the Asia Pacific as a whole. We believe that this is the right time for Securicor to take control of these businesses in a region which has tremendous potential for further development.