Money Printer De La Rue Soars on $392 Million Breakup Plan (1)

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.

Proceeds will allow the Basingstoke, England-based company, which prints banknotes featuring King Charles III, to ...