First Closing Excludes the European Operations of Western Union Business Solutions
Company Receives Full Proceeds of Sale
Second Closing Expected to be Completed in the Second Half of 2022
DENVER, CO (STL.News) The Western Union Company (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments, today announced the Company had completed the first closing of the divestiture of its Business Solutions segment to a consortium of Goldfinch Partners, LLC (“Goldfinch”) and The Baupost Group, LLC (“Baupost”) for approximately $910 million in cash.
As previously announced, the transaction will close in two stages. In this first closing, Western Union Business Solutions, excluding the business operated through Western Union International Bank in the European Union and the United Kingdom, was divested. In the second closing, which is expected to be completed in the second half of 2022, the remaining Western Union Business Solutions business will transfer.
According to the transaction terms, Western Union received the entire proceeds from the sale in this first closing.