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:
Helen Parris Stephanie Little
Director of Investor Relations Investor Relations Manager
Email: IRteam@capita.co.uk Email: IRteam@capita.co.uk
Capita external communications
Tel: 0207 654 2399
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.