Leading international law firm Freshfields Bruckhaus Deringer has advised Warburg Pincus and General Atlantic on the acquisition, from the Abraaj Group, of a 49% stake in the leading payment-processing business Network International focused on the Middle East and Africa.

Pervez Akhtar, managing partner and head of corporate, MENA region at Freshfields Bruckhaus Deringer, said: ‘Our team was delighted to have been given the opportunity to advise on this multi-party deal which represents one of the most significant transactions by financial investors to take place in the region this year. Network International is one of the most recognisable brands in the Middle East and is well positioned for future growth. The deal is a further demonstration of our track record in advising on the region’s most significant deals by financial investors and our growing involvement in advising the market leading international investment firms on their inbound Middle East and African investments.’

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in assets under management and an active portfolio of more than 120 companies.

Established in 1980, General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies.

Dubai lender Emirates NBD owns the remaining 51 per cent stake in Network International.

The Freshfields team was led by Pervez Akhtar in Dubai and corporate partner Patrick Ko in London.