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Capita plc - Completion of the sale of Education Software Solutions
PR Newswire
Completion of the sale of Education Software Solutions ( ESS ) business
Capita is pleased to announce that it has completed the sale of its ESS business to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity (
Montagu ).
As previously announced on 14 December 2020 and 14 January 2021, the disposal of the ESS business, a standalone business within the Capita group, supports Capita s ongoing strategy to simplify, strengthen and succeed .
The cash proceeds paid by Montagu in respect of the disposal were £298.5m. As previously announced, an additional sum of £45m will be payable by Montagu to Capita following receipt of certain regulatory approvals in respect of Montagu s agreed investment in ParentPay (Holdings) Ltd.
Capita plc - Result of Meeting
PR Newswire
Capita gains shareholder approval for the proposed sale of its Education Software Solutions Business
Capita is pleased to announce that the resolution proposed at the general meeting of the Company held at 11:00 a.m. on 14 January 2021 (the
General Meeting ), seeking approval for the proposed sale of its Education Software Solutions business to Tiger UK Bidco Limited, a newly formed company ultimately owned by funds advised by Montagu Private Equity (the
Disposal ), was duly passed by shareholders. Full details of the poll result are set out below.
Resolution
1,308,560,457
518,733
The full text of the resolution is set out in the notice of General Meeting forming part of the circular to shareholders dated 16 December 2020.
Capita plc - Publication of Circular and Notice of General Meeting
PR Newswire
Publication of Circular and Notice of General Meeting
On 14 December 2020, Capita announced that it had agreed to sell its Education Software Solutions (
ESS ) business to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity (the
Transaction ).
The Transaction constitutes a Class 1 transaction for Capita under the Listing Rules and is conditional on the approval of Capita shareholders at a general meeting of the Company. Completion of the Transaction is expected to occur during the first quarter of 2021.
Capita is pleased to announce that a shareholder circular in relation to the Transaction (the
Capita plc - Agreement to sell Education Software Solutions
PR Newswire
Agreement to sell Education Software Solutions
Capita plc ( Capita ) today announces that it has agreed to sell its Education Software Solutions ( ESS ) business to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity ( Montagu ), in a deal that values ESS at up to £400m.
ESS is a standalone provider of management information system (MIS) and related software for the education sector.
Part of the consideration agreed is for Montagu to assume liabilities such as working capital and debt worth £57m. Montagu will pay £298m on completion, expected early in 2021.