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(Alliance News) - Private equity firms are evaluating a takeover offer for bank note printer De La Rue PLC's product authentication unit, the Daily Mail newspaper reported on Sunday.
According to the newspaper, three private equity firms – one headquartered in the UK and two US firms with London offices – are weighing up a bid for the product authentication division, which creates tracking software and physical labels to help prevent trade in fraudulent items, from cigarettes to official football shirts.
According to the Daily Mail, citing one analyst, the product authentication unit could be worth up to GBP200 million.
De La Rue currently has a market capitalisation of GBP162.8 million.
Talks within the private equity firms regarding a bid for the company's product authentication unit are currently at an early stage, the Mail reported.
In the year to March 31, the product authentication unit contributed GBP5.7 million to De La Rue's GBP60 million total profit.
https://www.thisismoney.co.uk/money/markets/article-7670555/Predators-eye-rich-pickings-banknote-maker-La-Rue.html
By Tapan Panchal; tapanpanchal@alliancenews.com
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