With this disposal, the shareholders accord between Generali and Finint
related to the management of Agora stakes has been terminated ahead of the 14 October expiration deadline.
Before the full takeover, Western Union held a 30% stake in the business.Country: , ItalySector: Banking/Financial ServicesTarget: Finint
SrlBuyer: The Western Union CompanyType: Corporate acquisitionStatus: Closed
US money transfer and payment services firm The Western Union Co (NYSE:WU) said it had wrapped up the takeover of its Italian money transfer network agent Finint
The acquisition of the remaining 70% in Finint will allow Western Union to optimise productivity through a centralised support, the buyer said in a press release, adding it will have a slight contribution to its earnings this year.
Finint runs over 10,000 sub-agent money transfer locations in Italy, Spain and the UK.
- WESTERN UNION TO TAKE OVER AGENT FININT IN EUROPE
US money transfer and payment services firm Western Union (NYSE:WU) said it has reached a deal to take full control of 30%-owned agency Finint Srl in Italy, as part of a strategy to grow its money transfer business in Europe.