Reliance Capital to acquire Travelmate Services
Reliance Capital Ltd has announced that it has agreed to acquire 100 per cent of the equity share capital of Travelmate Services (India) Pvt Ltd, subject to necessary regulatory approvals.
The proposed acquisition will mark the immediate entry of the company into the exciting growth area of money changing and money transfer, in one of the world’s fastest growing, and most under-served markets.
Travelmate Services (India) Pvt Ltd, wholly owned by the Kuoni group, has 36 offices, 2,900 agents and 91 employees across the country, and is presently headquartered in Mumbai.
The company is one of India’s leading and fastest growing financial services Companies. It ranks among the top three private sector financial Companies and banking groups in terms of net worth.
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