Is UAE business mogul Dr. Shetty getting his market timing wrong again in buying Travelex for $1.4bn? « ArabianMoney:
"It’s just over two years ago that NMC Health was listed on the London Stock Exchange, completing the rescue by Abu Dhabi private equity concern Centurion that followed some widely publicized top-of-the market Dubai property investments by its founder Dr. B.R. Shetty, one of the legendary business pioneers of the UAE who started his business empire 40 years ago from scratch.
Today Dr. Shetty and equity partners associated with Centurion have announced that they are acquiring Travelex Holdings, the world’s leading foreign exchange specialist from funds advised by Apax partners and the founder and chairman of Travelex, Lloyd Dorfman who will keep a very small shareholding as president."
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