REG-Capita PLC: Capita announces the disposal of ParkingEye

CapitaAnnouncement

12/07/2018 07:05

Capita announces the disposal of ParkingEye

Capita plc (Capita) announces today that it has reached an agreement to sell
its parking management business, ParkingEye, to a vehicle owned by Macquarie
and funds advised by MML Capital Partners for a cash consideration of £235m.
The transaction is expected to close later this year.

The transaction is in line with Capita’s strategy of simplifying the
business, focusing on growth markets and disposing of non-core businesses.

ParkingEye’s underlying revenue and operating profit were £40m and £14m
respectively in the year to 31 December 2017 and the business had gross assets
of £22m. In Capita’s half year results, ParkingEye will be reported as a
business exit in non-underlying items. The cash proceeds will be used to
reduce net indebtedness.

Jon Lewis, Chief Executive Officer, Capita, said “This transaction marks a
further step in executing the strategy announced in April aimed at simplifying
and strengthening the business to deliver future success.  

Together with the four disposals already completed this year, we now expect to
raise more than £400m from non-core disposals in 2018, well ahead of our
target of £300m.”

Goldman Sachs International acted as Capita’s sole financial advisor on the
transaction.

This announcement contains inside information.

ENDS

Notes to editors:

ParkingEye is the leading provider of Automatic Number Plate Recognition
(ANPR) enabled car park management in the UK, providing car park management
and enforcement services on behalf of clients across a number of sectors
including retail, hospitality, education and the NHS.

Capita’s non-core disposal programme this year includes four completed
transactions: Supplier Assessment Services for £160m, Capita Specialist
Insurance Services Ltd for £16m, Projen Ltd for £2.75m and Medicals Direct
Group Ltd for £2.7m.

ENDS

Investor enquiries

Andrew Ripper, Head of Investor Relations
Fiona O’Nolan, IR Director

Tel: 020 7654 2220/020 7654 2281
Email: IRteam@capita.co.uk

Media enquiries

Capita press office
Tel: 0207 654 2399
Email: media@capita.co.uk 

Capita is a leading provider of technology enabled business services,
operating across five key markets: Software; People Solutions; Customer
Management; IT Services and Government Services. Working across the UK,
Europe, India and South Africa, we use our expertise, talent and technology to
partner with our clients to transform services and add value for all their
stakeholders. Capita is quoted on the London Stock Exchange (CPI.L). Further
information on Capita can be found at: http://www.capita.com

Goldman Sachs International, which is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority in the UK, is acting exclusively for Capita plc and no
one else in connection with the potential sale of Supplier Assessment Services
Limited and any other matter referred to in this announcement and will not be
responsible to anyone other than Capita plc for providing the protections
afforded to clients of Goldman Sachs International, or for providing advice in
relation to the potential sale of Supplier Assessment Services Limited or any
other matter referred to in this announcement.

LEI no. CMIGEWPLHL4M7ZV0IZ88.



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