News Formal

Brookfield beefs up payments business with $2.76 bln Network International buyout

  • 📰 Reuters
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Canada's Brookfield Asset Management said on Friday it would buy payments provider Network International 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.company's shares climbed as much as 6% to a more-than-one-month high of 385 pence in morning trade.a 387-pence joint offer from private equity firms CVC Capital and Francisco Partners.

The Canadian firm said Network directors intended to unanimously recommend that shareholders vote for the deal. Brookfield said the deal would be financed by a combination of equity investment, as part of which Brookfield Business Partners expects to invest up to about $150 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CNN chief to exit company following turmoil at networkMultiple reports claim CNN’s Chief Executive Officer Chris Licht will exit the cable news network.
Source: wsyx6 - 🏆 444. / 53 Read more »