Abu Dhabi Tycoon Swoops For Travelex Takeover:
"The founder of one of the Middle East's biggest foreign currency providers is in talks to buy Travelex in a deal that would result in the abandonment of a £1bn London initial public offering (IPO).
Sky News can reveal that Travelex is in advanced talks with Dr Bavaguthu Shetty, the boss of UAE Exchange, about a sale that would value the British-based company’s equity and debt at between £800m and £1bn.
The discussions could yet falter, but insiders said on Thursday that a deal could be announced within days if they progress as expected.
If the takeover negotiations do collapse, Travelex would move quickly towards formally announcing a stock market listing, a source said."
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