G4S Botswana limited has confirmed the conclusion of the acquisition of Facilities Management Group (Pty) Ltd, the company which is made up of three companies that are engaged in cleaning services, facilities management services and security.
G4s Chief Executive Officer, Moraki Mokgosana, revealed that the transaction was agreed at P12, 198, 848 and does not include the security component, as the security company (Shield Security) was disposed of prior to the conclusion of the transaction. He said the transaction is in line with the company’s global strategy to be a leader in providing outsourced solutions, and allows the company to deliver a wider range of outsourced solutions to both new and existing markets.
“We are excited by the addition of the new outsourced solutions to our range of services and are humbled by the opportunity to offer these to our existing and new customers,” he said.
G4s CEO highlighted that through this transaction, the company welcomes to the G4S Botswana family over 800 employees of PS Cleaning and Facilities Management Services who will be unaffected by the acquisition. He further revealed that along with the 2, 700 workforce, G4S Botswana continues to be one of the largest employers in the country with a complement surpassing 3, 500 employees.
Mokgosana stated that the transaction extends an opportunity for the over 100, 000 Batswana who have invested in the company directly and indirectly through institutional investors. He added that the broad based current participation in the security services sector offered by the listing of G4S Botswana in the Botswana Stock Exchange, partake in the cleaning and facilities management businesses.
“We are aware of the unfortunate recent media allegations and publications suggesting that G4S Botswana may have been a party to an attempt to circumvent the decision of the Competition Authority to reject the acquisition of Shield Security,” said Mokgosana.
G4s CEO stated that while his company had been deeply disappointed with the process and the logic that have been applied in the decision not to approve the transaction in its entirety, they have at all material times upheld their value of integrity and have, in the spirit of good governance and model corporate citizenship, since last year.
He highlighted that G4s proactively engaged all the stakeholders concerned to avert any contraventions of competition legislation, job losses and interruption to delivery of services to the customer.
“As a company that has operated in Botswana over the last 30 years, G4S Botswana has and will continue to honour and respect the statutes of this country, and would never, knowingly and deliberately, engage in any acts that undermine the laws of Botswana or decisions that are made by its agents,” he stated.
The effective date of the transaction was June 1st 2012 and has already commenced all necessary work to ensure seamless integration of the operations of Facilities Management Group.