Slaughter and May is advising Carillion, the UK’s leading support services company, on an agreement for the sale of its external IT Services business, an outsourcing, network and cabling solutions provider that it acquired with Alfred McAlpine, to Capita.
In parallel with this transaction, Carillion has also entered into a contract to outsource the provision of the Group’s UK internal IT services functions to Accenture.
These two transactions, which were announced on 09 June 2009 are expected to generate gross cash for Carillion totalling £76 million during 2009, of which £40 million relates to the outsourcing and £36 million to the disposal, which is subject to an adjustment for working capital at completion.
