Tempo France SAS has successfully completed a deal with UK-based E-Ventures Associates LTD.
The British company acquired 75 percent in TF’s stock from Jeffrey Phaneuf, who now owns 15 percent of shares.
One of the principal shareholders in E-Ventures Associates LTD is Souren Hayriyan (ex-president of the CIS leading money transfer system, Unistream), joining Tempo France’s BD, while Jeffrey Phaneuf has been appointed as president.
“With the deal's successful completion, Tempo France obtained a tremendous impetus to promote its core product, Tempo Money Transfer in the EU and international remittances market”, commented Jeffrey Phaneuf upon finalisation of the deal.
The main assets of the French money transfers system is a pan-European money transfers license, granted by the Bank of France in 2011 with potential to operate 200 000 outlets in 67 countries worldwide as well as state-of-the-art IT-systems and its team having collective work experience of 30 years.
The board includes two of Europe's most professional top-managers in the field of money transfers. TF also operates its own fully licenced branch in Germany.
“At this stage, our strategic goal is to become one of the major players in the EU remittance market. This makes it real to achieve serious financial and operational performance and leadership positions in the target market”, Phaneuf said.