Thursday, November 02, 2006
Kroll to sell Iraq, Afghanistan operations
Business
Kroll, the risk consulting and technology division of Marsh & McLennan Companies Inc., is looking to sell a subsidiary that provides security services in Iraq and Afghanistan. Simon Freakley, the chief executive of Kroll, said Wednesday that the company is exploring the sale of Kroll Security International because it has decided to refocus on consulting and training.
Kroll Security International currently has some 350 employees and accredited subcontractors on the ground in Iraq, he said. The size of its work force in Afghanistan was not immediately available. "Over the last six weeks, we have been speaking to high-quality companies that do this work and have expressed an interest in purchasing that subsidiary and taking over the activities," Freakley said. He added that "as we explore a transaction, our priority is that our people and clients (in Iraq and Afghanistan) are not compromised." Freakley said that KSI's staff would be maintained in both countries while negotiations were under way.
Kroll Security International currently has some 350 employees and accredited subcontractors on the ground in Iraq, he said. The size of its work force in Afghanistan was not immediately available. "Over the last six weeks, we have been speaking to high-quality companies that do this work and have expressed an interest in purchasing that subsidiary and taking over the activities," Freakley said. He added that "as we explore a transaction, our priority is that our people and clients (in Iraq and Afghanistan) are not compromised." Freakley said that KSI's staff would be maintained in both countries while negotiations were under way.
