Final agreement with Securitas
A final agreement has been signed with Securitas regarding a transfer of the majority of the commercial arm of the Riksbank's cash management operations, Pengar i Sverige AB, to Securitas Värde AB. The letter of intent signed in December 2003 has thereby been carried out in full. An application regarding the deal shall be submitted to the Swedish Competition Authority for examination.
The agreement means that Securitas Värde AB will take over the main part of the assets in Pengar i Sverige AB and that the majority of the company's employees will be offered employment at Securitas Värde AB. As part of the agreement, Securitas Värde AB has undertaken to honour current customer contracts. The parts of Pengar I Sverige that are not being taken over by Securitas Värde AB will be wound up.
The takeover is planned to come into effect in summer 2004. According to the agreement, the purchase sum shall be based on the book values of the transferred assets. The exact purchase sum can only be specified once the takeover date has been fixed.
Pengar i Sverige AB has approximately 350 employees and had an annual turnover in 2003 of about SEK 250 million. The company is a subsidiary of the Riksbank's company Svensk Kontantförsörjning AB.