StockMarketWire.com - Payments company Network International said it had sold its 50% take in Transguard Cash for about $74 million.

Transguard Cash provided end-to-end ATM and cash-management services for banks and retailers in the UAE.

The stake was sold to Transguard Group.

'The exit enables a greater focus of our business activities to our digital payments purpose; and proceeds from the sale will be deployed in the future to higher growth and value enhancing opportunities,' Network International said.


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