Brookfield Business Partners to acquire a 60% stake in Magnati from FAB for $690m.

Brookfield Business Partners, a global business services and industrial company, agreed to acquire a 60% stake in Magnati, a payments business of First Abu Dhabi Bank, a bank in the United Arab Emirates, for $690m. “This announcement marks an important milestone and is the result of long-term planning to seek strategic partnerships to drive growth within the payments sector. Our partnership agreement with Brookfield will accelerate Magnati’s journey in a fast-paced and dynamic industry, creating broader value for all stakeholders," Hana Al Rostamani, FAB CEO.