Linfox Armaguard Pty Ltd completed the acquisition of 65% stake in Prosegur Australia Pty Limited from Prosegur Cash, S.A..
September 03, 2023
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Linfox Armaguard Pty Ltd entered into agreement to acquire 65% stake in Prosegur Australia Pty Limited from Prosegur Cash, S.A. (BME:CASH) on July 28, 2022. The transaction has been structured by means of the contribution by Prosegur Australia to Armaguard of 100% of the share capital of the subsidiaries of Prosegur Cash in Australia which carry out the businesses, on a cash-free, debt-free basis, in exchange of shares of Armaguard representing 35% of the share capital of the jointly participated company. Consequently, the joint company will be participated by Armaguard and Prosegur on a 65%-35% basis. After closing, Prosegur Cash will consolidate its interest in the joint company by the equity method. The merged entity will continue under Armaguard branding. The transaction is subject to regulatory approvals, including by the Australian Competition and Consumer Commission (ACCC). The transaction is currently expected to complete prior to the end of year 2022. As on June 13, 2023, the transaction was approved by the Australian Competition and Consumer Commission. The closing of the transaction is still conditioned to the fulfilment of certain conditions precedent which are expected to be fulfilled in the course of the following weeks. Elizabeth Avery, Louise Klamka, Liana Witt, Lachlan Green, Johnathon Geagea, Adrian Vipond and Deborah Johns of Gilbert and Tobin acted as the legal advisor to Prosegur Cash, S.A. (BME:CASH).
Lnfox Armaguard Pty Ltd completed the acquisition of 65% stake in Prosegur Australia Pty Limited from Prosegur Cash, S.A. (BME:CASH) on September 4, 2023.
Prosegur Cash SA, formerly Prosegur Cit Holding SA, is a Spain-based company engaged in the provision of security services. The Companyâs activities are divided into three business areas: Logistics, Cash management and Outsourcing. The Logistics division focuses on the provision of local and international transport services of cash and other valuable goods. The Cash management division offers counting, processing, custody, preparation and delivery of notes and coins, as well as replenishment of automatic teller machines (ATMs). The Outsourcing division includes a number of support financial services, such as automation of retail operations through self-service cash automatization machines (MAEs), ATMs management, as well as branch forecasting, reconciliation, settlement and credit card support services. The Company operates through own branches and joint ventures in Europe, Central and South America, Africa, Asia and Australia. It operates through Contesta Teleservicios SAU.
PROSEGUR CASH, S.A. 
