British banknote maker and official document printer De La Rue plc confirmed on Thursday that it was in talks about the sale of its divisions.
De La Rue confirmed discussions with a number of certain parties, who have made proposals in relation to, or expressed interest in, either of the group's divisions.
In its strategic update, the company said the talks followed the board's review of the firm's core strategic strengths and how best to optimize the underlying intrinsic value of the business.
The company now said that at this stage there can be no certainty that the interest received will result in a transaction, nor as to the terms of any such transactions. A further announcement will be made in due course.
Regarding its trading, the company said there is no change to the previous guidance in relation to full-year 2024 outturn. De La Rue's full-year results are now expected to be announced in late July.
De La Rue also said it has reached agreement with two existing government revenue solutions customers for multi-year extensions to their contracts. These are for three and five years respectively, for the supply of a digital tax stamp solution to track and trace excisable products.
In order books, De La Rue reported positive momentum in both authentication and currency divisions with a number of significant recent contract wins and renewals.
The total of substantial contract renewals that De La Rue authentication has achieved within the last 12 months has reached four. The expected total contract values exceeds £150 million ($190.7 million).