Linklaters has advised a Brookfield-led consortium comprised of First Abu Dhabi Bank, Mubadala, ADQ and Olayan on its take-private of Middle East and Africa payments business Network International Holdings plc., at a value of approx. £2.2 billion, representing one of the largest private equity investments the region has ever seen.

The deal was announced in June 2023 and has closed as of 17 September 2024.

Simultaneously with completion of the takeover, the consortium has agreed to combine the Network business with the payments business Magnati.

Linklaters also advised on the financing raised to support the acquisition.

The deal team consisted of a cross-practice team of London and Dubai lawyers, led by Co-Head of the Global Financial Sponsors Sector Ben Rodham, Corporate partners Chris Boycott and Rupert Cheyne (all London) and Middle East managing partner Scott Campbell (Dubai).

They were supported by Corporate managing associate Frances Hibbert (London) with associates Claudia Greig (London), Nafeesa Bukhari (London), Tala Alhreish (Dubai), Tom Browne (Dubai) and Tiberiu Sandu (London).

Antitrust and Foreign Investment: Led by partner Natura Gracia, counsel Mark Daniel and managing associate Maria Ziprani (all London)

Financing: Led by partners Thomas Waller (London) and Kieron Zaman (Dubai) and managing associate Imogen Bailey (London).

Investment Funds: Led by partner Rahul Manvatkar and counsel Amin Ebrahim (both London).

Regulatory: Led by partners Harry Eddis (London) and Reem Alsayegh (Dubai), with managing associates Gabriella Savastano (Dubai), Olivia Murphy, Rebecca Heaysman, and Seraphina Chew (all London).

Share Incentives: Led by partner Cara Hegarty and managing associate Sarah Collister (both London).