Mastercard set to buy part of Travelex -sources

LONDON/BRUSSELS, Dec 9 (BestGrowthStock) – MasterCard Inc (MA.N: ) is
set to buy the card programme management arm of British foreign
exchange group Travelex and a deal may be announced on Thursday,
sources with knowledge of the matter told Reuters.

The sources said the deal was expected to be worth several
hundred million pounds. Mastercard said it was preparing a
statement for 1230 GMT, but declined to say whether it would
announce an acquisition.

“This is the part of the business that manufactures the
cards that Travelex provides for its customers,” said one
source, on condition of anonymity, who added that the deal would
provide Travelex with extra cash for its own expansion plans.

The sources said the deal would not change the shareholding
structure of Travelex, which is majority-owned by private equity
group Apax.
(Reporting by Sudip Kar-Gupta, Ben Deighton and Simon Meads)

Mastercard set to buy part of Travelex -sources