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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