Banknote printer De La Rue is turning to private equity as it looks to sell a significant stake
Banknote printer De La Rue is in discussions with a private equity firm about a possible investment.
A potential deal with Disruptive Capital could see it sell up to 40 percent of the company for 125 pence per share, a 14 percent premium on the share price before talks were announced.
La Rue shares rose 2.3 percent, or 2.5p, to 112p after the announcement.
Discussions with other parties about the sale of the foreign exchange business continued, but there was “no certainty” about a deal, the company said.
Share boost: De La Rue is in talks with private equity firm Disruptive Capital
Basingstoke-based De La Rue reported a profit of £7.3m for the six months to September 28, compared with £7.9m in the same period last year.
Turnover fell 10 percent to £145 million.
In October it struck a deal to sell its authentication business to US-based Crane NXT for £300 million.
Boss Clive Vacher said it had been approached by ‘several parties’. The company has struggled due to a slump in demand for notes, but its shares are up nearly 30 percent this year.
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