Mastercard to infuse $300m in Network International IPO
Global payments giant Mastercard has disclosed its decision to invest $300 million as a cornerstone investor in the planned London float of payments processor Network International.
Dubai-based Network International is the largest payments processor in the Middle East and Africa and set to be the first international IPO in London this year.
Network International is aiming at a valuation of around $3 billion according to banking sources.
Mastercard said it would invest in shared projects with Network International in the Middle East and Africa as part of the deal.
Network International is currently jointly owned by Dubai bank Emirates NBD and private equity firms Warburg Pincus and General Atlantic.
Related Posts
South Africa: Lula secures over $21m to boost SME funding
South African fintech Lula has secured R340 million (over $21 million) in local currency funding from the Dutch…
ByIfeyinwa Osime appointed Chair of Access Bank board
Access Holdings Plc has announced the appointment of Mrs. Ifeyinwa Osime as the new Chairman of the Board…
Simba Group, LAPO to enhance asset financing for mobility entrepreneurs
Simba Group, the exclusive distributor of TVS Tricycles (popularly known as Keke) and motorcycles in Nigeria, has entered…
Nedbank plans 66% acquisition of NCBA Group
South Africa’s Nedbank Group Limited has announced its intention to acquire a controlling 66% stake in NCBA Group…
Gallery
