Falck of Denmark is to acquire Group 4 Securitas, the international security group, creating the world's second-largest security services group in a deal worth around £715m.

The new group, Group 4 Falck, will have operations in more than 50 countries and employ 115,000 people. Combined sales last year were £1.1bn.

The companies said that through the merger they would achieve critical mass in operations in several European countries. The company will be the player in the UK, Belgium, The Netherlands, Denmark and Austria.

Under the terms of the deal, Falck will issue new shares equivalent to 37.5 per cent of its share capital to Group 4, which is controlled by Jørgen Philip-Sørensen. He will become chairman of Group 4 Falck with Lars Nørby Johansen, Falck's chief executive, as CEO.

Anna Lagerkvist