G4S buys 87% Deposita stake

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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

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