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Pakistan Security
Wackenhut (AKA Group 4)
Nov 6, 2012 The International News
KARACHI: The shares of G4S, a FTSE 100-listed company in Wackenhut Pakistan Private Limited (WPPL), have been purchased by its Pakistani partner. The share purchase has been registered with the Securities and Exchange Commission of Pakistan (SECP). Ikram Sehgal, chairman of Wackenhut, said that the buyout was driven by the government’s decision not to allow any foreign shareholding in private security agencies in the country. He declined to disclose other reasons that prompted the buyout. The buyout has surprised the security services sector around the world as it was not expected that a Pakistani entity could have the resources to buy out the shares of the largest security services company in the world.—PR

September 6, 2012 The Express Tribune
The Peshawar High Court (PHC) withdrew its stay orders against suspending operations of private security companies. The provincial government had suspended about 27 security companies, including Wackenhut Security, after some of their licences expired. Others companies’ operations were stopped after they failed to respond to certain queries of the government. During the previous hearing on August 25, the high court bench observed that it would withdraw its stay orders if the companies failed to submit their replies by September 5. On Wednesday, PHC’s division bench, comprising Justice Waqar Ahmad Seth and Justice Shahjahan Akhunzada, started hearing a petition filed by Wackenhut Security, a foreign security company. The bench was requested to adjourn the case because the company’s counsel, Waqar Khan, was not in the country. However, after going through the order sheet of a case hearing on August 1, the bench gave its orders as the deadline was over. The stay order was cancelled and orders of the home department issued on February 28, 2012, were enacted. Officials of the home department told The Express Tribune that they were waiting to obtain a copy of the order sheet. Once that is received, an operation against the companies would be launched. “We know that Wackenhut Security has almost been merged into another security company in Peshawar. We know about their deal along with all the relevant information and will soon be seizing everything belonging to the company,” an official said.

August 20, 2012 Reuters
G4S is set to pull out of Pakistan amid an increasingly hostile environment for foreign security companies, the Financial Times reported on Monday. The company, which trades under the name Wackenhut Pakistan Ltd, has agreed to sell the business to its chairman in the region for about $10 million. Ikram Sehgal, chairman of G4S's Pakistani operation, who already owns a 50 percent stake in the company, is expected to buy the company's Pakistan interest. "The Pakistani government has decided it doesn't want foreign security companies in the region, which makes it tough for outsiders to operate," Sehgal is quoted as saying. G4S, the world's largest security firm, employs 10,000 staff in Pakistan, where it provides security for the UN and multinational corporations. G4S is under fire over its failure to provide enough guards at the London Olymp