People walk to Brookfield Place off Bay Street on the day of the annual general meeting for Brookfield Asset Management shareholders in Toronto, May 7, 2014. REUTERS/Mark Blinch
Canada’s Brookfield Asset Management Inc (BAMa.TO) is in talks to buy the payments business of UAE’s biggest lender First Abu Dhabi Bank PJSC (FAB.AD), Bloomberg News reported on Tuesday. (https://bloom.bg/3p7qWQH)
The unit, called Magnati, could be valued at over $1 billion in the deal, the report said, citing people familiar with the matter.
Brookfield and First Abu Dhabi Bank did not immediately respond to Reuters requests for comment.
The business could also attract bids from other suitors, the Bloomberg report added.
Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber
Dubai is steadily positioning itself as a preferred destination for debt and equity listings as…
Emaar maintains market leading position while Binghatti rises as city’s top developer in total sales volume…
The IMF Executive Board completed the fourth review of the arrangement under the Extended Credit…
Nisus Finance Services Company Limited (NiFCO) has made its largest property investment in the United…
Gulf equity markets ended mostly lower as renewed Saudi-UAE tensions over Yemen rattled investor confidence
The International Monetary Fund (IMF) will release the January 2026 World Economic Outlook (WEO) Update…