De La Rue moves in on sale of cash systems division

The sale of De La Rue's 450m cash systems business has gathered pace after the company whittled down a handful of potential bidders for the division.

The world's biggest currency printer, which produces the euro and sterling,  is looking to shed its cash systems arm, which produces cash handling equipment and banking software.

According to The Telegraph, interested parties include private equity groups such as Bain Capital, Carlyle Group and Kohlberg Kravis Roberts – a former co-owner of Wincor Nixdorf.

As reported in PrintWeek magazine last month, De La Rue announced, ahead of its full year results, an 11.3% increase in turnover in 2006/07 to £354.5m for its banknote printing division.

The firm's cash systems division was expected to announce only "modest revenue growth".