Network International and Magnati get the greenlight for upcoming merger: Dubai-based payments provider Network International and First Abu Dhabi Bank's (FAB) payment arm Magnati, alongside co-investors, received regulatory clearance to merge into a single entity owned by a Brookfield-led consortium, according to a press release. The merger, slated to be finalized in 3Q 2025, will see both firms integrate their operations in phases.

A long time coming: In March 2024, the Central Bank of the UAE greenlit Canada-based Brookfield Asset Management’s USD 2.76 bn acquisition of Network International, which was later finalized in September. Brookfield and FAB then said that they planned to merge Network International with FAB’s Magnati — a year after Brookfield had acquired a 60% stake in Magnati.

MEA’s largest fintech incoming: The merged companies will operate across more than 50 markets in the Middle East and Africa (MEA) and are set to be the region’s biggest fintech platform, according to the statement. The merger will see the two offer digital payments, fraud prevention, small business lending, and data services to SMEs, larger firms, and government agencies.

ADVISORS- PJT Partners is the financial adviser to Network for the transaction, while Citi and JP Morgan acted as both financial advisers and corporate brokers. Morgan Stanley is the financial adviser for Bidco and Brookfield.

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