logo
  

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
American Airlines announced an agreement to purchase up to 20 Overture supersonic jets, the world's fastest airliner, from transportation start-up Boom Supersonic, with an option for an additional 40. Overture, which is expected to carry passengers at twice the speed of the fastest commercial aircraft available at present, would provide an important new speed advantage to American's fleet. WhatsApp, an instant messaging app owned by Meta Platforms, has launched a new desktop app for Windows users. The company is also developing an app native to Mac operating systems. Till now, WhatsApp Desktop users have been using its web-based desktop app i.e., WhatsApp Desktop, or browser-based app, i.e., WhatsApp Web. They were using the old Electron technology. Kraft Heinz is recalling around 5,760 cases of Capri Sun Wild Cherry Flavored Juice Drink Blend beverages due to potential for chemical contaminants, the U.S. Food and Drug Administration said. The recall involves 6.6 FL OZ Capri Sun Wild Cherry Flavored Juice Drink Blend in individual foil pouches packed in paperboard cartons.
Follow RTT