Thursday, 26 June 2014

Travelex Buyer Shetty Said to Seek $600 Million Acquisition Loan - Bloomberg

Travelex Buyer Shetty Said to Seek $600 Million Acquisition Loan - Bloomberg:



"Bavaguthu Raghuram Shetty, the entrepreneur buying a controlling stake in Travelex Holdings Ltd., is seeking about $600 million to finance his share of the deal, three people with knowledge of the matter said.



Shetty is in talks with Qatari banks about the loan and expects to appoint an international bank as lead arranger for the transaction, the people said, asking not to be identified as the information isn’t public. The financing may be completed in the next two weeks, according to the people.



Apax Partners LLP, one of Europe’s largest private-equity firms, agreed in May to sell its majority stake in the chain of retail currency exchanges to Shetty and entities linked to Saeed Bin Butti Al Qubaisi’s Abu Dhabi-based Centurion Investments. The deal is worth about 500 million pounds ($843 million), two people with knowledge of the matter said last month."



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