5 July 2011
Travelex sells Global Business Payments
Travelex, the world's leading foreign exchange specialist, which
is backed by Apax Funds, has announced the sale of Travelex Global
Business Payments ("TGBP"), the business payments operations
division to Western Union, a leader in global business payments,
for a total cash consideration of £606m. The transaction is
expected to complete by the end of 2011.