Western Union Said Near $1 Billion Travelex Unit Purchase

Western Union Co., the world’s largest money-transfer firm, is in talks to buy a division of Apax Partners LLP’s Travelex foreign-exchange business for about $1 billion, according to people with knowledge of the matter.

Western Union, based in Englewood, Colorado, may announce an agreement to acquire Travelex’s global business-payments unit as early as next week, said the people, who didn’t wish to be named because the talks are private.