Capita flogs off family silver

KR9984 Milan, Italy – August 10, 2017: Capita
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Capita is flogging off two more of its businesses for £60 million as it off-loads what it calls ‘non-core’ companies.

Gone are its Capita Real Estate and Infrastructure (‘REI’) and GL Hearn (‘GLH’) businesses.

For those who cant spot annoying acronyms REI provides specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

GLH provides advice to real estate developers, investors and occupiers across areas including planning and development, rating, valuation and occupier services.

The senior management teams and employees of REI and GLH will remain with their businesses as they transfer to the ownership of WSP.

Capita expects to receive proceeds of £69 million at completion.

Jon Lewis, Capita’s CEO, said: “We are pleased to have agreed the sale of these two businesses to WSP following a competitive sale process.

“Our REI and GLH colleagues and clients will join an established industry organisation with plans to take the businesses onto the next stage of their development. We will continue to execute on our plan at Capita to materially reduce debt through the disposal of non-core businesses.”