Capita PLC (LSE:CPI) has completed the sale of its speciality insurance businesses to Marco Capital Holdings (UK) Ltd.
The sale, initially announced last November, comprised two businesses: Capita Commercial Insurance Services Ltd and Capita Managing Agency Ltd.
The completion of the transaction follows receipt of the necessary regulatory approvals. The proceeds, net of transaction costs, will be used to strengthen the balance sheet and reduce debt.
Shares in Capita were up 4.9% at 25.16p in mid-morning deals.