RE: Debt reduction16 Sep 2022 08:36
Fri, 16th Sep 2022 07:16
(Sharecast News) - Business process outsourcing firm Capita has agreed to sell its Pay360 division to Access PaySuite in a deal that values the division at £150.0m.
Capita said on Friday that the disposal of Pay360 was on a cash-free, debt-free basis, representing a 14.3x multiple on the business' 2021 underlying earnings of £10.5m.
Taking into account cash-like and debt-like items, Capita expects to receive gross proceeds of roughly £156.0m upon completion.