May 28, 2014 / 5:21 PM / 4 years ago

UAE Exchange owner led consortium to buy UK's Travelex

May 28 (Reuters) - Retail foreign exchange operator Travelex (IPO-TUL.L) said UAE Exchange owner B.R. Shetty and Abu Dhabi private equity house Centurion Investments would buy the company from shareholders including Chairman Lloyd Dorfman and Apax Partners.

Terms of the deal were not disclosed.

    Travelex’s biggest shareholder, private equity firm Apax , had been planning a London listing of the company that sources previously told Reuters could value it at up to 1 billion pounds ($1.67 billion), including debt.

    Apax said last week that it would sell its stake to Shetty and Centurion. ($1 = 0.60 British pounds) (Reporting by Richa Naidu in Bangalore; Editing by Kirti Pandey)

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below