Western Union and International Money Express provided an update on the regulatory approval process and expected timeline for Western Union’s pending acquisition of Intermex.
The companies said money transmission regulators in 51 applicable U.S. states and territories and in all international jurisdictions have provided approval or non-objection to the transaction.
Approval or non-objection remains pending from one U.S. state. Western Union and Intermex said they remain actively engaged in discussions with regulators, including the New York State Department of Financial Services, to obtain the final regulatory approval.
The companies anticipate closing the transaction as soon as reasonably practicable after receiving the remaining approval and satisfying other customary closing conditions.
Western Union is a cross-border, cross-currency money movement, payments, and digital financial services company. The company serves consumers, businesses, financial institutions, and governments across more than 200 countries and territories and nearly 130 currencies.
Western Union connects with billions of bank accounts, millions of digital wallets and cards, and a global retail network of hundreds of thousands of locations.
Intermex was founded in 1994 and enables consumers to send money from the United States, Canada, Spain, Italy, and Germany to more than 60 countries.
Intermex provides money transfer services through agent retailers, company-operated stores, mobile apps, and websites. Transactions are fulfilled through thousands of retail and bank locations worldwide.
Intermex is headquartered in Miami and has international offices in Puebla, Mexico; Guatemala City, Guatemala; London; and Madrid.
