Abraaj Capital, a Dubai-based regional private equity firm, announced yesterday that it has completed the acquisition of a 49 per cent stake in Network International, the region's leading payment solutions provider.
Under the terms of the deal, which has been approved by the relevant regulatory authorities, Abraaj Capital, through Abraaj Financial Technologies Holdings Limited, has acquired the 49 per cent stake in Network International, a wholly owned subsidiary of Emirates NBD.
The acquisition was valued at Dh2 billion.
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