Local group UTI has sold Cobra Security company to Swedish group Securitas AB, which is represented locally by Securitas Services România, according to Mediafax newswire. UTI group is controlled by Tiberiu Urdareanu. Cobra Security was set up in 1992 and posted around EUR 13 million in turnover last year, up 10 percent on the previous year. The company hires 2,770 staff.

Securitas Services România was set up in 2007, after Swedish Securitas AB bought a 55 percent share package in local company CPI Security Group. Securitas Services România, headquartered in Bucharest, has 11 local subsidiaries and around 4,000 employees.

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