KWM has advised Travelex on the sale of its Currency Select business to Global Blue via a competitive sale process.

Travelex is the world’s leading independent foreign exchange business. Based in Sydney, Australia, the Currency Select business enables partners in 21 countries to perform Dynamic Currency Conversion and Multi-Currency Processing transactions through ATMs, Point-Of-Sale (POS) payment terminals and e-Commerce channels. Currency Select’s end-to-end platform works directly with international Card Schemes (including Visa, MasterCard and UnionPay), to provide authorisation, clearing and settlement services to partners across a wide range of sectors.

Headquartered in Switzerland, Global Blue are experts in foreign travellers' shopping and spending, and offer a range of services that help merchants maximise their business with foreign customers. Through the acquisition, Global Blue significantly bolsters its global merchant offering, broadening its ATM, e-Commerce and Multi-Currency Processing capabilities.

The KWM team was led by partners Lee Horan and Kate Jackson-Maynes, supported by senior associate Chris Carr and solicitors Nicholas Ferrari and Laura Bonnici.

Commenting on the deal, KWM partner Lee Horan said, “We are delighted to have been able to support Travelex on this significant cross border transaction. The sale was keenly contested and attracted global interest. It required the navigation of regulatory and cultural issues in multiple jurisdictions. We are delighted that we were able to ensure that the sale completed within the desired timeframes”.