General Atlantic, Warburg Acquire Stake in Network International - Bloomberg Business

General Atlantic, Warburg Acquire Stake in Network International - Bloomberg Business:

"General Atlantic LLC and Warburg Pincus LLC, two U.S. private equity firms, acquired a 49 percent stake in United Arab Emirates-based payments processing company Network International LLC.
Emirates NBD, which established Network International in 1994, will continue to hold a 51 percent stake, according to a statement from Network. No further details were given.
The Abraaj Group, which agreed to acquire a stake in Network International in 2010, had earlier sought an initial public offering for the business, people familiar with the matter said in June. Network International serves more than 70 banks and financial institutions in Middle East and North Africa and more than 17,000 individual merchants, according to Abraaj’s website. The deal is the first for General Atlantic in the Middle East."



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