March 13, 2014 17:00 ET
OTTAWA, ONTARIO--(Marketwired - March 13, 2014) - Competition Bureau
The Competition Bureau announced today that it has issued a No Action Letter (NAL) with respect to Garda World Security Corporation (GardaWorld)'s acquisition by one of its subsidiaries of G4S Cash Solutions (Canada) Limited (G4S).
However, our review identified competition concerns relating to armoured car services in Quebec. Therefore, GardaWorld provided the Commissioner with a commitment to change certain of its contracting practices relating to the provision of these services in Quebec. These changes are intended to make it easier for armoured car services customers to exit their contracts and switch to another service provider. In particular, GardaWorld will allow customers to terminate their contracts without penalty on 30 days written notice. Further, GardaWorld is required to notify all GardaWorld and G4S armoured car services customers in Quebec of the terms of its commitment to the Bureau. The Bureau intends to monitor the post-merger competitive dynamics in this industry.
"Our review concluded that the GardaWorld and G4S transaction raised competition issues relating to armoured car services in Quebec. GardaWorld's commitments are intended to make contract terms more favourable to customers and allow them greater flexibility to exit their contracts and switch to a competing service provider. Should our monitoring of the industry reveal evidence that there has been a violation of the Act, we will not hesitate to take appropriate action."
John Pecman, Commissioner of Competition
Position Statement: Competition Bureau Statement Regarding the Acquisition by GardaWorld of G4S Canada
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