Deals
Western Union Is Weighing Sale of Business-Payments Unit
- It booked $464 million write-down tied to business last year
- Changes to U.S. tax code hurt division’s revenue prospects
Photographer: Jean-Claude Coutausse/Bloomberg
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Western Union Co. is weighing a sale of its business-payments arm, which could fetch at least $500 million, according to people familiar with the matter.
The money-transfer company is working with a financial adviser to seek buyers for the division, said the people, who asked to not be identified because the matter isn’t public. Western Union plans to begin soliciting potential suitors within weeks, the people said. No decision has been made and Western Union may decide to keep the business, they said.