De La Rue Completes Sale Of Camelot Shareholding For GBP77.8M

8th Jul 2010 14:13

LONDON (Dow Jones)--De La Rue PLC (DLAR.LN), said Thursday the sale of its 20% shareholding in Camelot Group Ltd, operator of the U.K. National Lottery, to Ontario Teachers' Pension Plan for GBP77.8 million has completed. MAIN FACTS: -The gain on the sale won't be subject to tax. -As previously announced, the proceeds will be used to reduce the Group's pension fund deficit by GBP35 million as well as to return surplus cash to shareholders via a share buy back over a period of time. -The other shareholders in Camelot are Cadbury Schweppes, Royal Mail Enterprises, Fujitsu Services and Thales Electronics each holding 20%. -The sale of the shareholding in Camelot was originally announced March 26. -Shares at 1305 GMT up 5 pence, or 0.5%, at 925 pence valuing the company at GBP915.85 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 08, 2010 09:13 ET (13:13 GMT)