16th Feb 2021 17:31
(Alliance News) - Capita PLC on Tuesday confirmed it and the UK Cabinet Officer are considering a possible sale of their AXELOS Ltd joint venture as part of a review.
This announcement followed "media speculation", Capita said, as it explained that it and the Cabinet Office are "exploring strategic options" for AXELOS, including is possible sale.
London-headquartered outsourcer Capita stressed that there cannot be any certainty that the review will conclude in a transaction involving AXELOS.
AXELOS is 51% owned by Capita and 49% by the UK Cabinet Office. It is "responsible for developing, enhancing and promoting a number of best practice methodologies used by professionals working primarily in project, programme and portfolio management, IT service management and cyber resilience."
The moved follows Capita's completion of the sale of its Education Software Solutions business to Tiger UK Bidco Ltd, established by funds advised by Montagu Private Equity, for GBP298.5 million on February 2.
Shares in Capita closed 0.6% lower at 40.34 pence in London on Tuesday.
By Anna Farley; [email protected]
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