Announced
Financials
Sources
Tags
Private
Acquisition
Private Equity
Cross Border
Majority
Single Bidder
payment solutions
Friendly
Payments / Commerce
Pending
United Arab Emirates
Synopsis
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.
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