Travelex To Buy 75 Pct Stake In Turkish FX Retailer

March 31, 2014

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Retail foreign exchange provider Travelex said on Monday it had agreed to buy a 75 percent stake in Turkish foreign exchange retailer Arti Döviz Ticaret in a deal worth GBP£24.8 million (USD$41.26 million).

Arti Döviz operates nine airport-based foreign exchanges in Turkey. Travelex said it was waiting on regulatory approval from Turkish authorities to complete the deal.