Announced
Financials
Sources
Tags
United Arab Emirates
Acquisition
commodity exchange
Integrated Oil and Gas
Cross Border
Minority
Private
Pending
Friendly
Single Bidder
Synopsis
Saudi Tadawul, a diversified capital markets group, agreed to acquire a 32.6% stake in Dubai Mercantile Exchange, a commodities exchange. Financial terms were not disclosed. "Our investment in DME Holdings Limited provides Saudi Tadawul Group with access to one of the most important asset classes globally for the first time, embedding commodities trading into the Middle East's largest capital markets group. With the option to increase our stake in the future, this investment will contribute to our ability to diversify the Group's revenues and opportunities and is firmly aligned with our growth strategy and ambitions as part of Vision 2030. We look forward to working together to unlock new growth opportunities, leveraging our proximity to key financial and production hubs to bridge demand from east and west," Eng. Khalid Al Hussan, Saudi Tadawul CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.