CSG Holdings to sell parts of 7 Arrows for over R65m
The group will sell parts of the armed response and monitoring business of 7 Arrows, and part of its residential guarding business
Services group CSG Holdings said on Friday it would sell parts of its underperforming security business, 7 Arrows, to Fidelity for R65.85m.
The group is selling part of the armed response and monitoring business of 7 Arrows, and part of its residential guarding business.
“As a result of the review of underlying operations, and considering the negative return on investment of 7 Arrows over the last two years, certain of the 7 Arrows business segments were considered to be noncore to the future strategy of the company,” CSG said.
In afternoon trade on Friday, CSG’s share price was down 14.29% to 12c, having lost 47.83% so far in 2020.