Prosegur Compañía de Seguridad, S.A (“Prosegur”) is a multinational security company, headquartered in Madrid, Spain. Telefónica has reached an agreement with Prosegur whereby Telefónica acquires a 50% stake in Prosegur’s alarm business in Spain. This transaction, which must be submitted for approval by the appropriate authorities, represents a valuation of 50% of Prosegur’s alarm business in Spain of EUR 300m, subject to the standard adjustments on debt, working capital and existing customers at the time of the closing of the transaction. Telefónica has the option to pay the price, in whole or in part, in treasury shares, with Prosegur becoming a Telefónica shareholder.
With this alliance, both organisations want to accelerate the development of the alarm business in Spain and develop residential and business security services by generating innovative solutions for customers and contributing the complementary capabilities of both companies.
AZ Capital
Advised in the sale of
Prosegur Compañía de Seguridad, S.A (Spanish alarm business)
to