Money Printer De La Rue Soars on $392 Million Breakup Plan
- Authentication unit sold for £300 million enterprise value
- Transaction is expected to complete in the first half of 2025
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De La Rue Plc shares surged the most in more than four years after the banknote printer agreed to sell its authentication arm to Crane NXT Co., precipitating a breakup of the more than 200-year-old British company.
The cash transaction, which comes almost five months after De La Rue said it was in talks to sell assets, was agreed at an enterprise value of £300 million ($392 million), according to a statement on Tuesday. It’s expected to close in the first half of 2025.