Goldfinch Partners and Baupost Hedge Fund Buy Western Union Business Solutions
Posted on 08/07/2021
Goldfinch Partners LLC and The Baupost Group, LLC, a hedge fund managed by Seth Klarman, will acquire Western Union Business Solutions, the Denver-based payments and foreign exchange solutions division of Western Union Co., for roughly US$ 910 million in cash. Western Union established Western Union Business Solutions following the acquisitions of Custom House in 2009 and Travelex Global Business Payments in 2011. The transaction is expected to close in two phases.
Lazard Frères & Co. served as financial advisor, and Freshfields Bruckhaus Deringer LLP served as legal counsel to Western Union in the transaction.