Deal Corner
September 12, 2017
Network International Sells Remittance Technology Business (Remit2India) to UAE Exchange

DEAL BRIEF

Network International has sold its 100% stake in TOM Technologies Private Limited, a company housing the remittance technology business (popularly known as ‘Remit2india’) of TimesofMoney (a business engaged in cross border remittances, specializing in non-resident Indian remittances to India) to UAE Exchange.

Backed by General Atlantic and Warburg Pincus, Network International is leading provider of payment solutions in the Middle East and Africa. UAE Exchange is a United Arab Emirates based company dealing primarily in remittances, Foreign exchange and bill payment solutions. The sale was by way of a structured acquisition.

OUR ROLE

We at Nishith Desai Associates acted as sole legal counsel to Network International on the deal, advising on legal and regulatory aspects.

Disclaimer

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Deal Corner

September 12, 2017

Network International Sells Remittance Technology Business (Remit2India) to UAE Exchange

DEAL BRIEF

Network International has sold its 100% stake in TOM Technologies Private Limited, a company housing the remittance technology business (popularly known as ‘Remit2india’) of TimesofMoney (a business engaged in cross border remittances, specializing in non-resident Indian remittances to India) to UAE Exchange.

Backed by General Atlantic and Warburg Pincus, Network International is leading provider of payment solutions in the Middle East and Africa. UAE Exchange is a United Arab Emirates based company dealing primarily in remittances, Foreign exchange and bill payment solutions. The sale was by way of a structured acquisition.

OUR ROLE

We at Nishith Desai Associates acted as sole legal counsel to Network International on the deal, advising on legal and regulatory aspects.

Disclaimer

We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient's country/state.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

Research Papers

FAQs on Setting Up of Offices in India
December 13, 2024

FAQs on Downstream Investment
December 13, 2024

Gaming Law 2024
December 12, 2024

NDA Connect

Connect with us at events, 
conferences and seminars.