July 3, 2012 / 9:49 AM / 7 years ago

EU clears acquisition of Talaris by Japan's Glory

BRUSSELS, July 3 (Reuters) - Japan’s Glory Ltd gained EU clearance on Tuesday for its 650 million pounds ($1.02 billion) acquisition of Talaris, a provider of cash-counting equipment, from private equity firm Carlyle Group LP.

The merged group would still face several strong competitors in each of the various types of cash-handling products that it sells, the EU’s competition watchdog said in a statement.

“The customers of these products, which are primarily large and sophisticated financial institutions, would continue to have a sufficient number of suppliers from which to choose in their procurement processes,” it said.

Carlyle Group bought the company, then known as De La Rue Cash Systems, for 360 million pounds, in 2008 from De La Rue Plc .

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