Is Dubai payments firm Network International going to be a buyout target?

Is Dubai payments firm Network International going to be a buyout target?

Dubai: Dubai headquartered - and London-listed - payment processing firm Network International has received buyout interest from the private equity investor CVC Capital Partners, according to a Bloomberg report. If the deal goes ahead, it would be the second such involving a global investment firm and a UAE payment entity. CVC Capital Partners is a French private equity firm with more than $130 billion as assets under management. Emirates NBD holds 6 per cent in Network International. Early last year, Abu Dhabi mega-bank FAB sold 60 per cent in , with the payment firm valued at around $1.5 billion. The deal was also one of the drivers behind FAB's sterling results for 2022. "Network's growing reach in the region and in a high-potential growth market like Africa is what could be drawing buyout interest," said a Dubai-based analyst. "CVC Capital Partners can't be the only bidder for Network, and it could make for an interesting deal - if it happens." In a recent statement, Network International had said it would continue an this year as well. The buyback would total $100 million. At the time, some analysts had talked about a potential stake sale by Network, which has been expanding