The unit, called Magnati, could be valued at over $1 billion in the deal, the report said, citing people familiar with the matter.

Brookfield and First Abu Dhabi Bank did not immediately respond to Reuters requests for comment.

The business could also attract bids from other suitors, the Bloomberg report added.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)