Capita wins six-year contract worth £109m; sells ParkingEye for £235m
StockMarketWire.com - Capita said Thursday it won a £109m six-year contract from Department for Education's Standards and Testing Agency to manage and support all primary school national curriculum assessment tests in England.
Under terms of contract, Capita would manage the end-to-end process for primary school national curriculum assessment tests in England.
This would include printing, distributing, and collating over 9m test papers annually for key stage 1 and key stage 2 tests and administering the marking of four million key stage 2 test papers annually.
The six-year contract, covering the 2020 to 2024 test cycles, is worth approximately £109m, with the new service starting in September 2019 following a phased implementation and transition from September 2018.
In a separate announcement, Capita said that it had reached an agreement to sell its parking management business, ParkingEye, to a Macquarie and MML Capital Partners consortium for £235m.
The transaction is expected to close later this year.
'Together with the four disposals already completed this year, we now expect to raise more than £400m from non-core disposals in 2018, well ahead of our target of £300m,' said Jon Lewis, Chief Executive Officer, Capita. At 9:12am: (LON:CPI) Capita Group The PLC share price was +7.53p at 168.68p
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