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B. R Shetty obtain $800m loan deal to purchase Travelex

: Thursday, August 14 - 2014 @ 08:57

Abu Dhabi-based entrepreneur Bavaguthu Raghuram Shetty said lately that Goldman Sachs and Qatar National Bank (QNB) are arranging a $800 million loan to help him acquire a majority stake in foreign exchange operator Travelex. “The jumbo transaction has been finalised, we are happy with the terms,” Bavaguthu Raghuram Shetty told Reuters, adding that the financing was expected to be completed by September or October. QNB declined to comment, while Goldman Sachs did not immediately respond to a request for comment. Travelex, the world’s largest foreign exchange specialist, was set up as a bureau de change in the 1970s and now trades in over 80 currencies and more than 50 countries.

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Thursday, August 14- 2014 @ 8:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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