Brookfield beefs up payments business with $2.76 billion Network International buyout – Reuters

Brookfield beefs up payments business with $2.76 billion Network International buyout – Reuters

June 9 (Reuters) - Canada's Brookfield Asset Management (BAM.TO) said on Friday it would buy payments provider Network International (NETW.L) for 2.2 billion pounds ($2.76 billion) in cash, as it expands its payments business in the Middle East and Africa.

The 400 pence-per-share offer represents a premium of about 64% to United Arab Emirates-based Network International's closing price on April 12, the last business day prior to the start of the offer period.

The FTSE 250 (.FTMC) company's shares climbed as much as 6% to a more-than-one-month high of 385 pence in morning trade.