Travelex buys Turkish outfit

Michael Bow
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FOREIGN exchange firm Travelex yesterday moved into Turkey with the acquisition of Turkish company Arti Doviz.

It is the first time a foreign money exchange operator has entered the Turkish market.

The deal will give Travelex, which is exploring plans for a listing on the London Stock Exchange, five stores at Ataturk International Airport in Istanbul, the hub for Turkish Airlines.

It will also take control of two stores at Esenboga International Airport in Ankara and two stores at Adnan Menderes International Airport in Izmir. Terms for the deal were not disclosed.