REG-Capita Plc: Completion of the sale of travel businesses

CapitaAnnouncement

15/11/2023 07:00

 

 

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 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 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. 

 



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