Last checked at 15 Nov 2023 07:00
Capita Plc - Completion of the sale of travel businessesCapita Plc - Completion of the sale of travel businesses
PR Newswire
LONDON, United Kingdom, November 15
Capita plc
15 November 2023
Completion of the sale of travel businesses
Capita plc (“Capita”) today announces that on 14 November 2023 it completed the sale of its travel and events businesses Agiito and Evolvi to Clarity Travel Ltd (‘Clarity’) on the terms announced on 10 August 2023.
Taking into account the working capital and debt liabilities that Clarity is assuming as part of the transaction, Capita expects to receive cash proceeds of £17m, of which £8m is payable on completion and £9m is payable 12 months following completion.
The transaction has completed following National Security and Investment Act approval.
The proceeds, net of transaction costs, will be used to further strengthen the balance sheet and reduce debt.
The sale of its travel businesses also marks the penultimate transaction before the completion of all non-core disposals from Capita’s Portfolio division.
For more information, please contact:
Investor enquiries
Helen Parris Stephanie Little
Director of Investor Relations Investor Relations Manager
Tel: 07720 169269 Tel: 07541 622838
Email: IRteam@capita.co.uk Email: IRteam@capita.co.uk
Media enquiriesCapita external communicationsTel: 0207 654 2399Email: media@capita.co.uk
About Capita plc
Capita is a leading provider of business process services, driven by data, technology and people. Every day our 50,000 colleagues help millions of people, by delivering innovative, digitally enabled solutions to transform and simplify the connections between government and citizens, businesses and customers. We partner with our clients and provide the insight and technologies that give time back, allowing them to focus on what they do best and making people’s lives easier and simpler. We operate across two divisions – Capita Public Service and Capita Experience – in the UK, Europe, India and South Africa.
