Brookfield in Talks for First Abu Dhabi Bank’s $1 Billion Payments Arm
- Canadian investor in talks for First Abu Dhabi’s Magnati unit
- FAB completed carveout of its payments business last year
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Brookfield Asset Management Inc. is in talks to buy the payments business of the UAE’s largest lender First Abu Dhabi Bank PJSC, according to people familiar with the matter.
The Canadian investor is the frontrunner to acquire the Magnati unit, the people said, asking not to be identified as the matter is private. A deal will likely value Magnati at more than $1 billion, the people said.