BRS Ventures and Holdings, jointly owned by renowned businessmen from Middle East - Saeed Bin Butti Al Qubaisi, Dr B R Shetty and Khalifa Bin Butti Omeir Al Muhairi, has won The Banker’s ‘Middle East M&A Deal of the Year 2015’ award.

The coveted recognition was conferred by the magazine under the Middle East M&A category for the acquisition of Travelex Holdings, UK, said a statement.

The transaction was handled by, a five-member deal team, it said.

Promoth Manghat, who led the team, said: “The transaction was complex, needing cautious and deft handling. The entire deal, including finance, obtaining approvals from multiple regulators from various countries etc, was completed in a matter of few months.

“This accomplishment portrays the immense confidence the regulators and bankers have on the promoters – Saeed Al Qebaisi, Dr B R Shetty and Khalifa Al Muhairi.”

Travelex was acquired for its recognised and powerful brand value, geographic footprint, innovative products and services, compliance culture and strong relationships with regulators and business partners, said the statement.

These credentials compliment well with UAE Exchange, a global brand owned by the promoters and operating in over 31 countries, it said.

The acquisition has opened up several potential opportunities to create business synergies between Travelex and UAE Exchange, it added. - TradeArabia News Service