Abraaj Group agreed to sell its 49% share in Network International for electronic payment solutions in the Middle East and Africa region, for the benefit of Warburg Pincus and General Atlantic. Emirates National Bank of Dubai (Emirates NBD) will retain its share in the company which amounts to 51%.
According to a press release, Warburg Pincus and General Atlantic have received consultation services from Freshfields Bruckhaus Deringer LLP, and Paul, Weiss, Rifkind, Wharton & Garrison LLP, Perella Weinberg Partners, Morgan Stanley and Citi. Emirates NBD received consultation services from Gibson, Dunn & Crutcher LLP. The transaction is subject to customary Financial Close conditions. Details