Basingstoke based bank note printer De La Rue has drawn up a shortlist of bidders for its £450 million cash systems business, it is reported by The Press Association.

The move comes four months after the company, which prints one in five of the world’s currencies, announced a strategic review.

De La Rue’s cash systems business produces cash handling equipment and banking software and is valued by analysts at between £350 million and £450 million.

Bain Capital, Carlyle Group and Kohlberg Kravis Roberts, a former owner of German software group Nixdorf, are among private equity groups thought to be in the running, the Sunday Telegraph reported.

If the division is sold it would leave the rump of De La Rue as its security paper and print arm, which also provides travellers cheques, passports and revenue stamps.

In November, De La Rue said half-year sales at the cash systems division grew by 2.1% to £161.6 million, while operating profits were 32.7% ahead of last year at £14.2 million.

This story is also covered in more detail at The Telegraph.