This deal follows the completion of the carve-out of Magnati, which was announced on April 4 2021. FAB will retain the 40% stake in Magnati post-transaction and ‘continue its partnership via a long-term relationship agreement’. Upon completion, proceeds from the sale will be used to support FAB’s growth and transformation plans.
The carve-out of the payments business is part of ‘FAB’s digital transformation process and was designed to augment its position in the payments sector and unlock growth opportunities in new geographies and client segments.
Morgan Stanley & Co. International acted as sole financial adviser to FAB, while Freshfields Bruckhaus Deringer was legal adviser to FAB on the transaction. Cleary Gottlieb Steen & Hamilton did the same for Brookfield.
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