Embattled Finablr-owned Travelex goes up for sale - Arabianbusiness:
The board of Finablr-owned Travelex has decided to seek offers for the forex firm, the company said in a statement to the London Stock Exchange.
In the statement, Travelex said that “parties with a potential interest in making a proposal should contact PwC in order to entertain a customary non-disclosure agreement, following which they will receive certain information on the Travelex group, and will be invited to submit their indicative proposals to PwC on that basis.”
Travelex is one of a number of currency exchange and payment firms within the embattled Finablr Group, which in January reported than over 50 percent of its shares had been pledged as security against loans that BRS investments – owned by BR Shetty – had used to purchase Travelex in 2014.
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