BRIEF-Travelex says to be acquired by B R Shetty

Wed May 28, 2014 12:39pm EDT

May 28 (Reuters) -

* dr. B. R. Shetty to acquire travelex

* B. R. Shetty to acquire travelex holdings limited from funds advised by Apax Partners, Lloyd Dorfman and other shareholders

* Peter Jackson, chief executive officer of Travelex, together with existing management team, will continue to lead company

* Following completion of transaction Lloyd Dorfman will be founder and president of Travelex and remain a shareholder

* Standard Chartered Bank and Evercore (financial advisers to dr shetty), Mena Financial Partners (advisers to dr shetty on financing matters), Linklaters (legal advisers to dr shetty).

* Commercial terms of proposed transaction are confidential

* Goldman Sachs, J.P. Morgan Cazenove and Smith Square Partners (financial advisers to Travelex), Bank of America Merrill lynch and Barclays (financial advisers to Apax partners) Source text for Eikon: