Two Firms Guide Western Union’s Business Solutions Unit Sale

Freshfields Bruckhaus Deringer advised Western Union Co. on its agreement to sell the company’s global business solutions division to two private equity firms for around $910 million.

Skadden Arps said it’s advising the private equity firms, Boston-based Baupost Group and Seattle-based Goldfinch Partners.

The private equity firms are acquiring Western Union’s Custom House and Travelex units, which provide cross-border, cross-currency payments and foreign exchange for small- and medium-sized businesses and other organizations, according to a statement.

Hikmet Ersek, CEO of the financial services multinational, told Bloomberg TV Thursday that the divestiture frees his company to increase its focus on the ...