Completion of the sale of GL Hearn

23 September 2022

Capita plc (‘Capita’) has announced that it has completed the sale of its two real estate and infrastructure consultancy businesses to WSP on the terms announced on 2 August 2022.

Taking into account cash-like and debt-like items, Capita received proceeds of £69m at completion.

The sale comprises two businesses: GL Hearn and Capita Real Estate and Infrastructure.

The completion of the transaction follows receipt of the necessary consents. The proceeds, net of transaction costs, will be used to strengthen the balance sheet and reduce debt.

About GL Hearn and REI

GL Hearn (GLH) is a leading real estate business, providing cross-sector advice to developers, investors and occupiers with a strong market reputation across key service areas, including planning and development, rating, valuation and occupier services.

Capita Real estate and infrastructure (REI) is a leading UK-based provider of specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners.

About WSP

WSP is a leading engineering professional services consulting firm which supports significant projects in both the built and natural environments. We provide engineering and design services to public and private sector clients in the transportation and infrastructure, property and buildings, earth and environment, power and energy, resources and industry sectors, as well as a strategic advisory offering. We have more than 50 offices across the UK and Ireland. Our team of over 7,000 technical specialists and strategic advisers in the UK is part of a talented family of more than 55,000 global changemakers, transforming what’s possible to build a smarter, greener future for all. Together, we deliver innovative solutions to solve complex problems for our clients and the communities we serve, meeting both the needs of today and addressing the challenges of tomorrow.

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