LONDON (ShareCast) - De La Rue has tripled its planned cash return to shareholders after it agreed the sale of its Cash Systems business to private equity group Carlyle for £360m.
Following completion of the disposal, De La Rue will return approximately £460m to shareholders, equivalent to 305p per share.
"This total includes the £160m return of capital previously announced with the preliminary results on 22 May 2008, which will now be returned as part of the return of capital and not via a special dividend," 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. We wish the business well under its new ownership," chief executive Nicholas Brookes added.
De La Rue' strategy going forward will be to focus on banknote printing and banknote paper.
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