If MoneyGram money transfer, for some reason has not been received by the addressee, the sender will receive a refund. Due to regulatory requirements and consumer demand in Germany and France, MoneyGram opened company stores in both countries. 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. International company MoneyGram has expanded its service capabilities of online money transfers to UK residents. MoneyGram cooperates with numerous partners from Europe. Among them such financial establishments as Post of Canada, Cyprus, Ukraine, Iceland, Moldova, the Royal Mail of UK and Norway, Italian Post, Bank of Ireland, Sberbank of Russia, Kocbank, Banco Popular Espanol, and many others. Around the world, MoneyGram is working with leading financial institutions. Until 2004, the owners of MoneyGram were Viad Corp and Travelers Express Company Inc. 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.