Saudi Tadawul acquires 32.6% stake in DME

Saudi Tadawul acquires 32.6% stake in DME

Muscat – Saudi Tadawul Group Holding Company (STG), a leading diversified capital markets group in the MENA region, has entered into a binding agreement with existing shareholders of DME Holdings Limited to acquire a 32.6% stake in Dubai Mercantile Exchange (DME), one of the leading international commodities exchanges. As a result, STG will become the […]Muscat – Saudi Tadawul Group Holding Company (STG), a leading diversified capital markets group in the MENA region, has entered into a binding agreement with existing shareholders of DME Holdings Limited to acquire a 32.6% stake in Dubai Mercantile Exchange (DME), one of the leading international commodities exchanges.

As a result, STG will become the joint largest shareholder in DME Holdings alongside CME Group, with other shareholders including the Oman Investment Authority (OIA) and Dubai Holding as well as global financial and commercial industry leaders.

The deal also includes an ability for STG to increase its shareholding in the future. The shares acquired represent a mix of new and existing shares, with the proceeds from the new shares used to fund DME’s growth.

The agreement will support a strategic move towards leveraging the Middle East’s geographic proximity to both key commodity production hubs and end-markets, with DME serving