LOG.L Regulatory News (LOG)

29 May 2012 07:00

29 May 2012

Logica sells its stake in Silta Oy

Logica today announces the conditional sale of its 50% stake in Silta Oy to private equity company Sentica Partners. The gross asset value is estimated at £1.1 million. The transaction is subject to approval by the competition authorities.

Silta Oy is a venture with Finnish insurance companies Varma Mutual Pension Insurance Company and Sampo Oyj. The disposal will allow Logica to focus on its core competencies of IT and business services, in this particular instance around HR Business Process Outsourcing.

Silta Oy is the leading market provider of payroll outsourcing business and financial management in Finland.

For further information, please contact: Logica Investor Relations: Karen Keyes +44 (0) 7801 723682 / Jose Cano +44 (0) 20 7446 1338 Logica Media relations: Louise Fisk +44 (0) 7798 857770 Brunswick: Sarah West/Jonathan Glass: +44 (0) 20 7404 5959