MEXICO CITY, Feb. 21, 2012 /PRNewswire/ -- Grupo Elektra,
S.A.B. de C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America's leading financial services
company and specialty retailer, and The Western Union Company
(NYSE: WU), a leader in global payments, announced today the
companies have entered into a new long term money transfer
agreement in Mexico with Western
Union under a non-exclusive basis.
With more than 1,800 points of sale in Mexico, cutting edge technology and the trust
of millions of Mexican families in its brands through more than six
decades of company operations, Grupo Elektra has proven experience
in the money transfer and payments industry, together with Western
Union's more than 100 years of presence in Mexico, providing dependable financial
services.
Western Union, together with Vigo and Orlandi Valuta, has more
than 50,000 points of sale in the US. Western Union is the
leading provider of money transfers worldwide with 160 years of
experience, more than 485,000 Agent locations in more than 200
countries and territories.
In 1993, Grupo Elektra and Western Union signed an agreement
through which Grupo Elektra was enabled to payout international
money transfers in Mexico; the
agreement was renewed in 2006, adding under a separate agreement
Western Union branded payments services Vigo and Orlandi
Valuta.
The new agreements consolidate Grupo Elektra's solid positioning
as a major paying agent in Mexico,
and further increases and diversifies the company's revenues and
profitability. With secure and fast money transfer
operations, the agreements reaffirm Grupo Elektra and Western
Union's solid commitment to serve millions of consumers throughout
Mexico.
Company Profile
Grupo Elektra (www.grupoelektra.com.mx) is Latin America's leading financial services
company focused on the mass market. The Group operates over 2,800
points of sale in Mexico,
Brazil, Guatemala, Honduras, Peru, Panama,
El Salvador and Argentina. Grupo Elektra also sells and
markets its consumer finance, banking and financial products and
services through Banco Azteca branches located in Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El
Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com),
a group of dynamic, fast-growing, and technologically advanced
companies focused on creating shareholder value, contributing to
build the middle class of the countries in which they operate and
improving society through excellence. Created by Mexican
entrepreneur Ricardo B. Salinas
(www.ricardosalinas.com), Grupo Salinas operates as a management
development and decision forum for the top leaders of member
companies. The companies include Azteca (www.irtvazteca.com),
Azteca America
(www.aztecaamerica.com), Grupo Elektra (www.grupoelektra.com.mx),
Banco Azteca (www.bancoazteca.com.mx), Afore Azteca
(www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx)
and Grupo Iusacell (www.iusacell.com.mx). Each of the Grupo Salinas
companies operates independently, with its own management, board of
directors and shareholders. Grupo Salinas has no equity holdings.
However, the member companies share a common vision, values and
strategies for achieving rapid growth, superior results and
world-class performance.
Except for historical information, the matters discussed in this
press release are forward-looking statements and are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected. Other risks that may
affect Grupo Elektra and its subsidiaries are identified in
documents sent to securities authorities.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
December 31, 2011, the Western Union,
Vigo and Orlandi Valuta branded services were offered through a
combined network of approximately 485,000 agent locations in 200
countries and territories. In 2011, The Western Union Company
completed 226 million consumer-to-consumer transactions worldwide,
moving $81 billion of principal
between consumers, and 425 million business payments. For more
information, visit www.westernunion.com.
Grupo
Salinas Investor Relations
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Bruno
Rangel
Grupo Salinas
Tel. +52 (55) 1720
9167
jrangelk@gruposalinas.com.mx
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Carlos
Casillas
Grupo Salinas
Tel. +52 (55) 1720
0041
cjcasillas@gruposalinas.com.mx
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Grupo
Salinas Press Relations
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Tristan
Canales
Grupo Salinas
Tel. +52 (55)
1720-1441
tcanales@gruposalinas.com.mx
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Daniel
McCosh
Grupo Salinas
Tel. +52 (55)
1720-0059
dmccosh@gruposalinas.com.mx
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The Western
Union Company
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Daniel Diaz,
Media
Tel. +1 (303)
547-2347
daniel.diaz@WesternUnion.com
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Mike Salop, Investor
Relations
Tel: +1 (720)
332-8276
Mike.Salop@WesternUnion.com
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SOURCE Grupo Elektra, S.A.B. de C.V.