India: Centrum sells money exchange unit to US-based EBIX for $185m

Photo: Pixabay

Financial services provider Centrum Group has agreed to sell its entire stake in its money exchange business, Centrum Direct, to US-based technology firm EBIX Inc, for around Rs 1,200 crore ($185 million).

Centrum Direct is a step-down subsidiary of Centrum Capital, which holds equity shares in the unit through Centrum Retail Services Ltd.

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