Four investment banks are vying for success fees in the bidding for Travelex, the world's biggest foreign exchange group.

The banks are advising Apax Partners, BC Partners and Permira and Kohlberg Kravis Roberts, the four buy-out firms to have been shortlisted following first round bidding in an auction being run by Deutsche Bank. Travelex is valued at about £1bn (€1.4bn).

David Rothnie

Kohlberg Kravis Roberts

Citigroup

Deutsche Bank

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Banks named in £1bn Travelex auction

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