French group, Oberthur, will receive a £400 million financing from private equity house, Bain Capital, Financial Times reports. Oberthur will issue a convertible bond to Bain for the loan.
The financing will help Oberthur increase its takeover bid of banknote printer, De La Rue. It is planning to raise its offer to 905 pence for De La Rue. Bain will not be involved in a hostile bid and will only support a deal if Oberthur gains approval from De La Rue’s board.
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