July 12, 2018 / 6:21 AM / 5 months ago

UK's Capita to sell its parking management business for $310 mln

July 12 (Reuters) - British outsourcing company Capita Plc has agreed to sell its parking management business, ParkingEye, for 235 million pounds ($310.3 million) cash consideration.

The sale to a vehicle owned by Macquarie and funds advised by MML Capital Partners is expected to close this year, Capita said.

The company now expects to raise more than 400 million pounds from non-core disposals in 2018, ahead of its 300 million pounds target, it said on Thursday. ($1 = 0.7575 pounds) (Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri)

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