BANKNOTE PRINTER DE LA RUE MAY BE SOLD

 

The company behind Britain's banknotes is considering breaking up its business just a day after Royal Mail fell into the hands of a foreign buyer.

De La Rue, which prints notes for the Bank of England and half of the world's central banks, is delaying its full-year results to July as it talks with ‘a number of parties'.

It recently collaborated with the Bank of England on new banknotes featuring the King's portrait, which will enter circulation next Wednesday.

The money-printing business has suffered in recent years as demand for notes wanes.

‘De La Rue's been struggling for years with various headwinds including a significant downturn in currency demand, prompting a good look at the business and its future.

‘It's only natural that De La Rue is now considering a break-up as signs of recovery put it in a better position to get a fair price.'

Last year the Hampshire company said demand for banknotes around the world was at its lowest level in 20 years, resulting in a low order book.

To read the complete article, see:
Fears for De La Rue as Britain's banknote printer enters sale talks (https://www.thisismoney.co.uk/money/markets/article-13477639/Fears-La-Rue-Britains-banknote-printer-enters-sale-talks.html)

 

Shares in banknote printer De La Rue jumped five per cent in early deals this morning after the company responsible for printing the UK's money edged closer to the sale of some or all of its business.

Clive Whiley, De La Rue's chairman, commented: Since my appointment a year ago, the board has considered a broad range of possible strategic alternatives including transactions with multiple parties which may involve a combination with, or the sale of, the group's divisions.

To read the complete article, see:
De La Rue shares jump as orders grow and group edges closer to sale (https://www.msn.com/en-us/money/markets/de-la-rue-shares-jump-as-orders-grow-and-group-edges-closer-to-sale/ar-BB1njcmc)

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