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G4S to pullout from Pakistan: FT

Sun Aug 19, 2012 8:08pm EDT

LONDON (Reuters) – G4S (GFS.L) is set to lift out of Pakistan amid an increasingly antagonistic sourroundings for unfamiliar confidence companies, a Financial Times reported on Monday.

The company, that trades underneath a name Wackenhut Pakistan Ltd, has concluded to sell a business to a authority in a segment for about $10 million.

Ikram Sehgal, authority of G4S’s Pakistani operation, who already owns a 50 percent seductiveness in a company, is approaching to buy a company’s Pakistan interest.

“The Pakistani supervision has motionless it doesn’t wish unfamiliar confidence companies in a region, that creates it tough for outsiders to operate,” Sehgal is quoted as saying.

G4S, a world’s largest confidence firm, employs 10,000 staff in Pakistan, where it provides confidence for a UN and multinational corporations.

G4S is underneath glow over a disaster to yield adequate guards during a London Olympics.

(Reporting by Stephen Mangan; Editing by Diane Craft)

Source: Article Source

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