Brookfield Asset Management Inc. and Network International Holdings Plc are among potential bidders for UAE lender Mashreqbank PSC’s payments unit, according to people familiar with the matter.
Buyout firm TPG Inc. is also among suitors interested in the unit that could be valued at $500 million to $700 million, the people said, asking not to be identified as the matter is private.
The company has since carved out its payments arm into a new unit, NeoPay. The unit processes about $22 billion across sectors on an annualized basis and handled over 300 million transactions last year.
Read more: BNN Bloomberg
