UK supermarket group Sainsbury's has sold its cash machine operation in a further move to simplify its banking business and reduce costs.
Sainsbury’s announced a phased withdrawal from its core banking business in January and in June struck a deal to sell most of its banking operation to NatWest, including insurance, travel money and its automated teller machines - ATMs
Britain's second largest grocer after Tesco said on Wednesday the ATM business, comprising 1,370 cash machines, has been sold to NoteMachine, which is owned by Brink's and is one of the UK's biggest ATM operators.
In February, Sainsbury's said it was seeking a further 1 billion pounds ($1.34 billion) of operating cost savings over the next three years to fuel investment in its core food offer.
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