Conduent Inc: completes sale of transit business for $164,000,000

What happened

• The filing says that Conduent, through its subsidiary Conduent Business Services, LLC (CBS), entered into an Equity Interest Purchase Agreement to sell all issued and outstanding equity interests of Conduent Transport Solutions, Inc. and certain non‑U.S. subsidiaries comprising its public transit and fare collection business for $164,000,000. The company previously announced the Purchase Agreement on May 21, 2026.
• The filing says that on Sep 30, 2026 CBS, Buyer and Modaxo Group, Inc. entered into a First Amendment to the Purchase Agreement to remove Modaxo USA Holdings, Inc. as a buyer, make Modaxo France Holdings SAS the sole buyer, provide for certain India assets to be sold at a subsequent closing subject to Indian regulatory approval, and waive certain governmental filing closing conditions.
• The filing says that on Oct 1, 2026 the company issued a press release announcing the completion of the transit sale.

Key details

• Purchase price: $164,000,000.
• parties: Conduent Business Services, LLC and Modaxo France Holdings SAS (Modaxo USA Holdings, Inc. was removed by amendment).
• Sep 30, 2026 amendment provides for sale of certain India assets at a later closing, subject to regulatory approval in India.
• The filing includes unaudited pro forma condensed consolidated financial statements (Exhibit 99.2): balance sheet as of Jun 30, 2026 and statements of income (loss) for the years ended Dec 31, 2025, Dec 31, 2024, Dec 31, 2023, and for the six months ended Jun 30, 2026.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement — the First Amendment to the Equity Interest Purchase Agreement), Item 2.01 (completion of disposition of assets — the Transit Sale), Item 7.01 (Regulation FD disclosure — press release), and Item 9.01 (pro forma financial information filed).
• A filing does not show why the insider traded or why the company acted.