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Article: Passing The Bucks; Remittance providers are moving to counter a falloff in business and transaction volume as the recession undercuts the industry.(Private Equity)(Western Union Corp.)(MoneyGram International)
- Article from:
- Investment Dealers' Digest
- Article date:
- October 16, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kelly Holman
With Western Union and MoneyGram International, a portfolio company of private-equity firms Thomas H. Lee Partners and GS Capital Partners, expected to release their third-quarter results in the next two weeks, the companies will be under sharp shareholder scrutiny. They will also offer a window into how the money-transfer business is holding up at a time when the remittance industry is facing contraction.
Western Union is the 800-pound gorilla of the two, with 385,000 agent locations spread between 200 countries that offer consumer-to-consumer payments, via its Vigo, Orlandi Valuta and Pago Facil brands, along with a host of related ...