UK's De La Rue in talks over stake sale valuing it at $311 million (updated)

De La Rue

12/12/2024 16:22

(Adds details on offer, share move and background throughout)
       Dec 12 (Reuters) - Banknote maker De La Rue  DLAR.L 
said on Thursday it is in talks with a consortium for a sale of
up to 40% of its equity that would value the British company at
about 245 million pounds  ($310.6 million).
    The latest proposal of 1.25 pounds per share is from private
equity group Disruptive Capital GP and pension fund manager
Pension SuperFund Capital - together PSFC Entities, De La Rue
said.
        By 1604 GMT, the company's shares were up 2.3% at 1.12
pounds in choppy trading that also followed its interim results
earlier in the day when De La Rue posted a fall in operating
profits but said it had seen a surge in new orders.
        The more than 200-year-old company said that PSFC
Entities were not seeking control of De La Rue and that its
discussions with other parties over a possible sale of its
currency unit were progressing.
    
     

($1 = 0.7888 pounds)

 (Reporting by Raechel Thankam Job and Pushkala Aripaka in
Bengaluru; Editing by Anil D'Silva and Shailesh Kuber)
 ((RaechelThankam.Job@thomsonreuters.com;))