Sidley Austin LLP Advises Western Union on its Acquisition of Travelex Global Business Payments
London - The London office of Sidley Austin LLP* has advised The Western Union Company on its acquisition of Travelex Global Business Payments division, a leading specialist provider of international business payments, for £606 million in cash. The transaction, which was signed in London on 5th July, is subject to regulatory approvals and the satisfaction of certain closing conditions, and is expected to complete in late 2011.
Travelex Global Business Payments conducts international business payments to companies and businesses, with approximately 35,000 customers in 14 countries.
The Sidley London team was led by Corporate & Securities partners Tom Thesing and Jonathan Wallace, working with Mike Rodin, Associate General Counsel/M&A at Western Union, and included the following Sidley lawyers:
- Matthew Dening (Partner, International Finance Group - Derivatives)
- Mark Menhennet (Partner, Real Estate)
- Drew Scott (Partner, Tax)
- Nicholas Turner (Partner, Employment)
- David Went (Partner, Competition)
- Michael Constantine (Associate, Real Estate)
- Zartasia Khan (Associate, International Finance Group - Derivatives)
- Michael Killourhy (Associate, Corporate & Securities)
- Kieran Patel (Associate, Corporate & Securities)
- Richard Searle (Associate, Employment)
- Will Smith (Associate, Tax)
- Frederick Lowinger (Partner, M&A and Private Equity)
- William Nissen (Partner, Securities and Futures Regulatory)
- William S. Eckland (Partner, Financial Institutions Regulatory)
- Ming-Hsuan Elders (Associate, Financial Institutions Regulatory)
Jonathan Wallace said, “We are very pleased to have worked with Western Union on its acquisition of the business-to-business payments division of Travelex. This was a challenging transaction that fit perfectly with our experience in the financial services and payments sector.”
Tom Thesing commented, “We have worked closely with the Western Union team on a number of transactions in Europe and around the world, and appreciated the opportunity to work with them again on this strategic transaction. It is always gratifying to work with our global clients across multiple jurisdictions as they develop their businesses.”
Sidley Austin LLP is one of the world’s premier full-service law firms, with more than 1600 lawyers practising in 17 U.S. and international cities, including Beijing, Brussels, Frankfurt, Geneva, Hong Kong, London, Shanghai, Singapore, Sydney and Tokyo. Sidley is recognized for service and responsiveness. Sidley received the most first-tier national rankings of any U.S. law firm in the inaugural U.S.News – Best Lawyers “Best Law Firms” rankings for 2010. BTI, a Boston-based research and consulting firm, has named Sidley as one of only three firms to have been in the top ten of the BTI Client Service rankings every year since the inception of those rankings in 2001, and as number one in three of those years.
* Sidley Austin LLP, a Delaware limited liability partnership which operates at the firm’s offices other than Chicago, London, Hong Kong, Singapore and Sydney, is affiliated with other partnerships, including Sidley Austin LLP, an Illinois limited liability partnership (Chicago); Sidley Austin LLP, a separate Delaware limited liability partnership (London); Sidley Austin LLP, a separate Delaware limited liability partnership (Singapore); Sidley Austin, a New York general partnership (Hong Kong); Sidley Austin, a Delaware general partnership of registered foreign lawyers restricted to practicing foreign law (Sydney); and Sidley Austin Nishikawa Foreign Law Joint Enterprise (Tokyo). The affiliated partnerships are referred to herein collectively as Sidley Austin, Sidley, or the firm.
For purposes of the New York State Bar rules, this press release may be considered Attorney Advertising and the headquarters of the firm are Sidley Austin LLP 787 Seventh Avenue, New York, NY 10019, 212.839.5300 and Sidley Austin LLP One South Dearborn, Chicago, IL 60603, 312.853.7000. Prior results described herein do not guarantee a similar outcome.