Brink’s India and Latin America Cash Management Units Attract Buyers
Several potential buyers have lined up to buy global security and protection company Brink’s cash management business in India, as the US firm looks to hive off the unit as part of a global strategic review, reports
The Economic Times
Hitachi-owned payment services provider Prizm Payments, Thomas Cook India and cash logistics specialist SIS Prosegur are among those that have expressed a strong interest in acquiring the venture, according to sources cited in its report.
Two private equity players, as yet unnamed are also reported to have indicated possible interest. According to one of the sources, if successful, acquiring the unit would be the first Indian investment for either of the funds.
Brink’s, which is New York Stock Exchange (NYSE)-listed, is a global leader in security-related services for banks, financial institutions and companies in other sectors ranging from mines to retail.
From armoured transportation to cash management, services also include money processing, long-distance transport of valuables, vaulting and other value-added solutions. Brink’s activities extend to 100 countries and it employs 70,000 people worldwide. Selling its India and Latin America cash management businesses follows a wider rationalisation of its portfolio in several markets.