Dr Shetty and Centurion to acquire Travelex | GulfNews.com:
"UAE based entrepreneur Dr. B.R. Shetty and equity partners associated with Centurion Investments (Centurion), a UAE investment company on Friday announced that they have entered into an agreement to acquire Travelex Holdings Limited (Travelex), a leading foreign exchange specialist.
The proposed acquisition will be effected through BRS Ventures & Holdings Limited, a company owned by Dr Shetty and equity partners associated with Centurion. The acquisition is subject to customary regulatory and other approvals and consents.
Travelex is currently owned by Apax Partners, Lloyd Dorfman (Founder and Chairman of Travelex) and other shareholders. Following completion of the transaction, Lloyd Dorfman will be Founder and President of Travelex and remain a shareholder. Peter Jackson, Chief Executive Officer of Travelex, together with the existing management team, will continue to lead the company."
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