Western Union To Buy Apax’s FX Business
Western Union is seeking to buy Apax Partners’ foreign-exchange business Travelex.
Western Union is seeking to buy Apax Partners’ foreign-exchange business Travelex, Bloomberg reports. The U.S. payment transfer company has offered $1 billion for the business.
The London-based firm seeks to use the proceeds from the sale to pay down debt and develop its consumer currency exchange business. Travelex is a non-bank provider of foreign-exchange services to corporations.
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