This article should really read, in order to clear massive debts from the Capita books, Capita have been forced to sell off one of their most profitable business units. Asset Services is a solid business unit with good profitability and Link Administration have correctly identified that Capita were desperate to do a deal and have picked up a bargain.
Capita will now use the cash to clear debts incurred from various failed acquisitions under the stewardship of Andy Parker.
Capita will be looking to make further redundancies as debts are still not cleared and profits are still not high enough even though they have just had a cash injection of £888m.
A downward spiral indeed...