On March 7, 2011, MoneyGram entered into a Recapitalization Agreement with THL, as the holder of all of the B Stock, and Goldman Sachs, as the holder of all of the B-1 Stock. After the correction of tariffs, volumes of MoneyGram transfers increased by 30%. In due time MoneyGram separated from the Western Union and became an independent brand. Commission income on remittances and other revenues of MoneyGram in the 2nd quarter 2012 increased by 10% compared to the same period last year and 13% in the base currency.