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Capita hits disposals target as it sells Trustmarque IT business for £111m
28th Jan 2022 07:03
(Sharecast News) - Government contractor Capita on Friday said it had sold its Trustmarque IT services business to One Equity Partners for £111m as part of its £700m disposals programme.
Taking into account cash-like and debt-like items, Capita expects to receive net proceeds of around £115m at completion. An additional £3m is receivable "contingent on certain future events".
Capita, which runs services from the London congestion charge to collecting the BBC licence fee, has been on a disposals spree in a bid to boost its coffers. Friday's sale means it has hit its target earlier than its previous forecast date of June 2022, said chief executive Jon Lewis.
Taking into account cash-like and debt-like items, Capita expects to receive net proceeds of around £115m at completion. An additional £3m is receivable "contingent on certain future events".
Capita, which runs services from the London congestion charge to collecting the BBC licence fee, has been on a disposals spree in a bid to boost its coffers. Friday's sale means it has hit its target earlier than its previous forecast date of June 2022, said chief executive Jon Lewis.