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BREAKING: De La Rue sells off cash-systems business to private equity firm
June 15, 2008
Finextra.com: British banknote printer De La Rue is selling its cash systems division to U.S. private equity firm Carlyle Group in a £360 million (U.S. $708 million) cash deal.Under the terms of the deal, De La Rue will return roughly £460 million (U.S. $905 million) of capital to shareholders. The cash systems unit provides teller automation technology for dispensing, accepting, counting and authenticating bank notes. It also supplies dispensing mechanisms to ATM manufacturers. However De La Rue says the deal does not include its cash processing division, which provides banknote sorters.
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