Dubai’s Emirates NBD sells $205 mln in Network International

Emirates NBD, Dubai’s largest lender, said in a statement that it has offloaded more stake in London-headquartered payments services provider Network International Holdings PLC, raising GBP 160 million ($205.2 million).

The bank said in a statement on Wednesday that it sold 31 million ordinary shares in Network International at 515 pence ($6.61) per share. 
Emirates NBD also confirmed that Network International – which is listed on the London Stock Exchange – would not receive any proceeds from the sale.

Following the transaction, the bank will hold 28.6 million ordinary shares in the share capital of Network International, accounting for 5.7 percent of the company’s entire issued share capital.

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