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.