Warburg Pincus & General Atlantic Buy The Abraaj Group’s Stake in Network International (MENA)

Source: The Abraaj Group, Private Equity International  |  Author(s): Matthew Goodburn

Global private equity firms Warburg Pincus and General Atlantic have agreed to acquire a 49 percent stake in United Arab Emirates-based payments solutions provider Network International from global growth markets investor The Abraaj Group. The Abraaj Group originally invested in the company, which has a reported enterprise value of more than US$1 billion, in 2011. Warburg Pincus and General Atlantic plan to help Network International expand its network in North Africa. Financial details of the transaction, which is subject to customary closing conditions, were not disclosed.