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Conyers advised leading Middle Eastern Bank Emirates NBD Bank PJSC on the US$539 million acquisition by Abraaj Capital of a 49% stake in Network International, a wholly owned subsidiary of Emirates NBD Bank PJSC.
Dennis Ryan of Conyers’ Dubai office acted as special Cayman Islands legal counsel to Emirates NBD Bank PJSC on the financing component of the acquisition, which Abraaj Capital effected through Abraaj Financial Technologies Holdings Limited. Dewey & LeBoeuf LLP also advised Emirates NBD Bank PJSC, while Allen & Overy advised ABRAAJ.
Network International is the UAE’s largest merchant acquirer for credit and debit cards and the largest third-party processing vendor in the Middle East. Abraaj Capital is the largest private equity group in the MENASA region.