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Friday, 19 May 2017

CORRECTED-UAE Exchange Group targets up to $300 mln in acquisitions | Reuters

CORRECTED-UAE Exchange Group targets up to $300 mln in acquisitions | Reuters:

"UAE Exchange Group, a global remittance and foreign exchange business, aims to spend between $250 million and $300 million on acquisitions to build its global market share, its chief executive said. The group aims to increase its share of the $575 billion global remittance industry to more than 10 percent by 2020, from 6.75 percent currently, Promoth Manghat said. "The group is exploring multiple bolt-on acquisition opportunities as well as strategic investments in remittances and payments space with a specific focus on fintech (and) digital," Manghat said."



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