Dubai’s Network International gets $2.5b takeover proposal

<strong>Dubai’s</strong><strong> </strong><strong>Network</strong><strong> </strong><strong>International gets $2.5b</strong><strong> </strong><strong>takeover proposal</strong>

Network International, a Dubai-based payments provider, has received a takeover proposal from a consortium of French private equity firm CVC Capital and Francisco Partners at around $2.5 billion. 

The proposal values the London Stock Exchange-listed company at around $2.5 billion, according to a Reuters report.

The possible cash offer is at 387 pence per Network share for the entire issued and to be issued share capital of the company.

In a regulatory filing on the exchange, Network, which focuses on the Middle East and Africa, said if a firm offer is made, its board will recommend the proposal to the shareholders.

CVC Capital Partners is a French private equity firm with more than $130 billion as assets under management. Francisco Partners is a global investment firm that specializes in partnering with technology and technology-enabled businesses.

Dubai-based lender Emirates NBD holds 6% in Network International.

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