Brink’s Announces Investment in MoneyGram
February 06 2020 - 07:19PM
The Brink’s Company (NYSE: BCO), the global leader in total cash
management, today announced that it has invested $9 million in
MoneyGram International, Inc. (NASDAQ: MGI), one of the world’s
largest money transfer companies. This equity investment lays the
foundation for the companies to develop a long-term strategic
partnership to pursue mutually beneficial near and long-term
commercial opportunities. The company has no intention to acquire a
controlling interest in MoneyGram.
Management intends to continue its proven strategy of
aggressively pursuing accretive acquisitions in its core business
while also implementing its internal organic growth initiatives.
These strategies have created substantial value over the last three
years and are expected to drive significant additional value in the
future.
Earlier today, Brink’s announced that it had invested in
MoneyGram during the fourth quarter of 2019 through open market
purchases of stock equaling approximately 4.95% of MoneyGram’s
outstanding shares. The cash management needs of MoneyGram’s
agent network, which spans more than 200 countries, align closely
with the company’s next-generation retail solutions.
About The Brink’s CompanyThe Brink’s Company
(NYSE:BCO) is the global leader in total cash management,
route-based secure logistics and payment solutions including
cash-in-transit, ATM services, cash management services (including
vault outsourcing, money processing and intelligent safe services),
and international transportation of valuables. Our customers
include financial institutions, retailers, government agencies,
mints, jewelers and other commercial operations. Our global
network of operations in 41 countries serves customers in more than
100 countries. For more information, please visit our website at
http://www.brinks.com or call 804-289-9709.
Forward-Looking StatementsThis release contains
forward-looking information. Words such as "anticipate," "assume,"
"estimate," "expect," “target," "project," "predict," "intend,"
"plan," "believe," "potential," "may," "should" and similar
expressions may identify forward-looking information.
Forward-looking information in these materials includes
expectations related to acquisitions and organic growth initiatives
and results thereof. Forward-looking information in this document
is subject to known and unknown risks, uncertainties and
contingencies, which are difficult to predict or quantify, and
which could cause actual results, performance or achievements to
differ materially from those that are anticipated.
These risks, uncertainties and contingencies, many of which are
beyond our control, include, but are not limited to: our ability to
improve profitability and execute further cost and operational
improvement and efficiencies in our core businesses; our ability to
improve service levels and quality in our core businesses; market
volatility and commodity price fluctuations; seasonality, pricing
and other competitive industry factors; investment in information
technology (“IT”) and its impact on revenue and profit growth; our
ability to maintain an effective IT infrastructure and safeguard
confidential information; our ability to effectively develop and
implement solutions for our customers; risks associated with
operating in foreign countries, including changing political, labor
and economic conditions, regulatory issues (including the
imposition of international sanctions, including by the U.S.
government), currency restrictions and devaluations, restrictions
on and cost of repatriating earnings and capital, impact on the
Company’s financial results as a result of jurisdictions determined
to be highly inflationary, and restrictive government actions,
including nationalization; labor issues, including negotiations
with organized labor and work stoppages; the strength of the U.S.
dollar relative to foreign currencies and foreign currency exchange
rates; our ability to identify, evaluate and complete acquisitions
and other strategic transactions and to successfully integrate
acquired companies; costs related to dispositions and product or
market exits; our ability to obtain appropriate insurance coverage,
positions taken by insurers relative to claims and the financial
condition of insurers; safety and security performance and loss
experience; employee and environmental liabilities in connection
with former coal operations, including black lung claims; the
impact of the Patient Protection and Affordable Care Act on legacy
liabilities and ongoing operations; funding requirements,
accounting treatment, and investment performance of our pension
plans, the VEBA and other employee benefits; changes to estimated
liabilities and assets in actuarial assumptions; the nature of
hedging relationships and counterparty risk; access to the capital
and credit markets; our ability to realize deferred tax assets; the
outcome of pending and future claims, litigation, and
administrative proceedings; public perception of our business,
reputation and brand; changes in estimates and assumptions
underlying critical accounting policies; the promulgation and
adoption of new accounting standards, new government regulations
and interpretation of existing standards and regulations.
This list of risks, uncertainties and contingencies is not
intended to be exhaustive. Additional factors that could cause our
results to differ materially from those described in the
forward-looking statements can be found under "Risk Factors" in
Item 1A of our Annual Report on Form 10-K for the period ended
December 31, 2018, and in our other public filings with the
Securities and Exchange Commission. The forward-looking information
included in this document is representative only as of the date of
this document and The Brink's Company undertakes no obligation to
update any information contained in this document.
Contact:Investor Relations and Corporate
Communications804.289.9709
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