Network International + Magnati complete merger under Brookfield-led ownership: Dubai-based digital payments firm Network International and First Abu Dhabi Bank’s (FAB) payments arm Magnati have completed their strategic merger, according to a press release. The new entity, which will eventually take Network International’s name and brand, is owned by a consortium led by Canada's Brookfield Asset Management. The two businesses will integrate in phases, with their respective brands staying independent for now.

An expanded offering: The combined entity will offer services including digital payments, SME lending, and financial security solutions — operating across 56 markets. It is also set to collaborate with governments on regional financial inclusion and digital transformation initiatives.

ICYMI- Regulatory clearance for the merger came in July of this year, after the Central Bank of the UAE greenlit Brookfield’s USD 2.8 bn takeover of Network International in 2024 — an acquisition which was finalized in September that year. Brookfield and FAB then said they planned to merge Network International with Magnati — a year after Brookfield acquired a 60% stake in Magnati.

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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