Western Union to Acquire Finint S.r.l

The Western Union Company WU announced today that it has signed an agreement to acquire Finint S.r.l.. Finint manages more than 10,000 subagent locations across Italy, Spain, and the United Kingdom. Western Union currently owns 30 percent of the company and will acquire the remaining 70 percent. The transaction complements Western Union's acquisitions of leading European network agents FEXCO in 2009, and Angelo Costa S.r.l. earlier this year. The transaction is subject to regulatory approvals and satisfaction of closing conditions, and is expected to close in the second half of 2011. The Company expects the acquisition to be slightly accretive to earnings in 2011 due to gains anticipated to be recorded on the revaluation of its previous ownership interest, partially offset by integration costs.