Brookfield to Buy 60% of First Abu Dhabi Bank's Payment Arm

(Bloomberg) -- Brookfield Asset Management Inc. signed an agreement to buy 60% of the payments business of First Abu Dhabi Bank PJSC at a $1.15 billion valuation. 

FAB, which completed the carve-out of its Magnati payments business into a fully-owned subsidiary in April, will retain a 40% stake.

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