REG-Capita Plc: Completion of the sale of stake in Fera

CapitaAnnouncement

18/01/2024 07:15

18 January 2024

 

 

Completion of the sale of stake in Fera

 

Capita plc (“Capita”) today announces that on 17 January 2024 it completed
the sale of its stake in Fera Science Limited (‘Fera’) to a fund managed
by Bridgepoint Development Capital (‘Bridgepoint’), on the terms announced
on 4 December 2023.

The sale of Capita’s 75% interest in Fera, a joint venture with
the Department for Environment, Food & Rural Affairs (Defra), resulted in
Capita receiving cash proceeds of £62m upon completion. These cash proceeds
include cash and debt-like items and working capital adjustments.

 

The transaction has completed following consent from the superior landlord for
changes being made to the title of the property from which Fera
operates. National Security and Investment Act clearance for the transaction
was granted on 9 November 2023. As part of the transaction, Defra is retaining
its shareholding.

The proceeds, net of transaction costs, will provide additional liquidity to
further strengthen Capita’s balance sheet and support investment across the
Group.

 

The sale of Fera marks the successful end of non-core disposals from
Capita’s Portfolio division as part of a strategy to simplify and strengthen
the business around two core markets. 

 

For more information, please contact:

 

Investor enquiries 

Helen Parris
                                     
Stephanie Little

Director of Investor Relations             Deputy Head of Investor
Relations

Tel: 07720 169269                             Tel:
07541 622838

Email: IRteam@capita.co.uk              Email:
IRteam@capita.co.uk 

 

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: 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 43,000 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.

 



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