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Wed 02 Feb 2009Western Union deal nets Fexco $159m
IRISH FINANCIAL services group Fexco has netted $159.5 million in cash from a deal that involves it selling its money transfer business to Western Union and acquiring the Colorado-based company’s 25 per cent stake in the Kerry business.
Fexco was involved in about $3 billion worth of money transfers as an agent of Western Union in 2008. It operated the service from locations in Ireland, the UK, Spain, Norway, Finland, Sweden and Denmark.
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