G4S' £70 million loss over its London 2012 Olympic and Paralympic contracts follows months of negotiations with Games organisers Locog.
The security group also incurred additional costs of around £18 million relating to charitable donations, fees and the cost of sponsorship and marketing.
The UK Government is an important customer for the group and we felt that it was in all of our interests to bring this matter to a close in an equitable and professional manner without the need for lengthy legal proceedings.
More top news
Donald Trump has wasted no time making his mark on international matters as well as domestic. So how will his presidency affect the world?
Another cold, frosty and foggy night for many. Northern and western areas will see thickening cloud, patchy rain and milder temperatures.
Temperatures have already plunged to -12C in some parts of the UK this winter - but Thursday could be the coldest day yet.