Alibaba Group will own MoneyGram

Alibaba Group will own MoneyGram

30.01.2017 News

Ant Financial company within the framework of a public company Alibaba (China), announced about the final stage of the USA financial company asset acquisition procedures MoneyGram International, specializing in international trade transactions online, as reported Inventure.

The Chinese side intends to complete the transaction in the third or fourth quarters of 2017, after the approval and adoption of the key conditions for the operation guidance of the American company. The transaction amount is estimated at $ 880 million.

In turn, in the statement of representatives of the Chinese companies emphasized that they will “provide consumers in more than 200 countries with convenient and affordable financial services in line with its main task – to ensure equal access to financial services around the world”.

MoneyGram is an American company, with office located in Dallas, Texas. It provides services of international money transmissions. Owns more than 300 thousand points of currency transmissions in more than 195 countries around the world.

Also read: Alibaba Group offers for the purchase of Chinese Intime Retail $ 2,6 billion

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