De La Rue sells cash systems business to Carlyle
The sale would include the group's automated teller machine operations but exclude the sale of its systems for cash processing.
Nicholas Brookes, the chairman of De La Rue, said: "The disposal of cash systems, in the more uncertain economic environment, reflects the quality of the business that we have built since 2004 and crystallises its value for our shareholders."
Shareholders are due to receive about £460m following the completion of the deal.
The announcement of the plans to sell followed a review last November, which found few opportunities for synergies between the cash systems division and its security paper and printing department. The review concluded that the company should consider the sale of this arm of the business.
The deal, conditional on the support of De La Rue's shareholders and certain regulatory approvals, is due to be completed in September 2008.
De La Rue is involved in banknote operations in 150 countries. In 2003, the Bank of England opted to have its notes printed by De La Rue.
Click here to read De La Rue's statement
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