The Carlyle Group is reportedly set to pay between £350 million ($684 million) and £400 million for the cash systems division of FTSE 250-listed De La Rue.
The division that provides products including note counters and cash dispensers to retail and central banks worldwide constitutes 48 percent of profits for the company, which has a £1.1 billion market capitalisation.
It was reportedly also considered a potential target by fellow buyout firms Kohlberg Kravis Roberts and Bain Capital, but Carlyle is De La Rue’s preferred bidder, according to UK newspaper The Daily Telegraph.
De La Rue said last month it was considering strategic alternatives for the division.
Carlyle declined to comment.
Report: Carlyle nears £400m deal for De La Rue division
The buyout firm is reportedly weeks away from closing a deal for De La Rue’s cash systems division, whose products include ATMs, cash counting machines and related software.
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