LONDON (dpa-AFX) - Capita plc (CPI.L) said that it has agreed to sell 100% of the shares of Eclipse (Hardware) Limited trading as Eclipse Legal Systems to Access UK Limited.
The total agreed consideration reflects an enterprise value of 56.5 million pounds on cash and debt free basis.
The transaction is due to complete on 30 June 2020 and is not subject to any conditions. Proceeds from the transaction will be used to strengthen Capita's balance sheet.
The statutory gross assets of Eclipse at 31 December 2019 were 20.5 million pounds and the statutory profit before tax for the year ended 31 December 2019 was 5.5 million pounds.
Capita noted that all of the Eclipse Senior Management Team will be transferring with the business.
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