Cardtronics To Sell Retail Portion Of UK Cash-in-Transit Operation

(RTTNews) - Cardtronics Inc (CATM), the world's largest retail ATM owner/operator, on Tuesday announced that it has signed an agreement to sell the retail portion of its U.K. cash-in-transit operation.

The retail arm of Cardtronics U.K.'s cash-in-transit business, which provides cash pickup and delivery services for retail stores, will be divested to Loomis, an international leader in the cash handling services industry.

Cardtronics U.K. will continue to provide cash replenishment and maintenance services for both its owned and third-party ATM estates.

The deal to divest the retail cash-in-transit business is expected to close on July 1. Purchase consideration is approximately £18 million.

Cardtronics expects its revenues in the second half of 2015 to be reduced by approximately $13 million due to this divestiture. Impact on profits is expected to be immaterial to 2015 results.