UK's De La Rue hits over 2-1/2 year high on sale of a unit

De La Rue

15/10/2024 08:24

** Shares of British banknote maker De La Rue  DLAR.L  jump
21.3% to 114 pence, its highest since Feb 2022
    ** Stock top gainer on the FTSE small cap index  .FTSC  
    ** Co to sell its authentication business for 300 mln pounds
($391 mln), incl debt, to Crane NXT  CXT.N 
    ** Says sale allows it to focus on banknote printing, reduce
debt, address pension deficit
    ** As of last close, stock had risen about 9% YTD
 
 ($1 = 0.7663 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))