Travelex makes first foray into Austria
The deal involves the purchase of 25 branches in Austria, the Netherlands and Switzerland, allowing Travelex to enter the Austrian market for the first time.
The retail forex and money transfer businesses of ReiseBank in the Netherlands currently operate under the name Cash Express. The branches will become part of GWK Bank NV, which was bought by Travelex in 2004, and will operate under the name GWK Travelex.
The Swiss branches will be acquired by Travelex Switzerland and integrated into the
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