Swedish security services group Securitas has been granted regulatory approvals for the acquisition of Stanley Black & Decker's electronic security solutions business, Stanley Security.

In a statement, Securitas, the world's largest listed security services group, said it expected to finalize the $3.2 billion deal around July 22.

Securitas in December 2021 announced its bid to buy back the business unit it had sold to its U.S. rival in 2011. Initially, the regulatory approval processes were expected to be finalized during the first half year of 2022.