Brookfield Asset Management Ltd. has agreed to acquire London—listed Network International Holdings Plc for about £2.2 billion ($2.8 billion) to expand its presence in credit card processing in the Middle East.
The Canadian investment group reached a deal to pay 400 pence per share in cash, according to a statement on Friday. That represents a premium of about 64% to Network International’s closing price on April 12 — the last business day before the start of the offer period.
Shares in Network International rose as much as 6% on Friday. The stock was up 5.7% at 12:35 p.m. in London, giving the company a market value of about £2 billion.
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