logo
Plus   Neg
Share
Email

Capita Group To Sell ParkingEye - Quick Facts

Capita Group plc (CPI.L) announced an agreement to sell its parking management business, ParkingEye, to a vehicle owned by Macquarie and funds advised by MML Capital Partners for a cash consideration of 235 million pounds. The cash proceeds will be used to reduce net indebtedness.

Jon Lewis, CEO, Capita, said "This transaction marks a further step in executing the strategy announced in April aimed at simplifying and strengthening the business to deliver future success. Together with the four disposals already completed this year, we now expect to raise more than 400 million pounds from non-core disposals in 2018, well ahead of our target of 300 million pounds."

Separately, Capita plc announced it has been selected by the Department for Education's Standards and Testing Agency to manage the administration, processing and support for all primary school national curriculum assessment tests in England. The six-year contract, covering the 2020 to 2024 test cycles, is worth approximately 109 million pounds.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
US investment bank JPMorgan Chase & Co. reported Wednesday a profit for the first quarter that soared five-fold from last year, driven by primarily by credit reserve releases compared to last year's credit reserve builds. Both earnings per share and revenues for the quarter topped analysts' expectations. Los Angeles, California-based Torn & Glasser is recalling 7464 units of dark chocolate espresso beans sold at Kroger citing undeclared walnut, an allergen, the U.S. Food and Drug Administration said. The dark chocolate walnuts were mislabeled as "dark chocolate espresso beans". Moderna, Inc. announced that updated cases in its trial show its COVID-19 Vaccine (mRNA-1273) is greater than 90% effective against all cases of COVID-19, with around 6 months median follow-up post-dose 2. The new data from the Phase 3 COVE Study also shows that the vaccine is greater than 95% effective against severe cases of COVID-19.
RELATED NEWS
Follow RTT