Securitas Services Romania takes over Cobra security services provider.

By bne IntelliNews October 28, 2010
Securitas Services Romania, the local branch of the Swedish Securitas AB, took over Cobra Security security services provider from UTI Group - controlled by local investor Tiberiu Urdareanu, reported Mediafax. The details of the deal were not immediately available, but Cobra Security's revenues increased by 10% y/y to RON 55.7mn (EUR 13.1mn) while it reported RON 0.74mn losses. Following the deal, the security services market is shared among three foreign groups (G4S, Rosegur and Securitas) to which add the local BGS. The market is estimated by Adevarul daily at EUR 166mn.

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