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.