Banknote maker De La Rue 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.
Source: Reuters.com