Completion of the sale of stake in Fera

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: [email protected]              Email: [email protected] 

 

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: [email protected] 

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.