Dubai Mercantile Sells 20% Stake

August 2008 | Corporate Financing News Alert

Dubai Mercantile Exchange Ltd (DME) has announced that it will sell a 20% stake to a number of minority investors, including Goldman Sachs Group. DME is a joint venture between state-controlled enterprises from Dubai and Oman and the New York Mercantile Exchange-parent company Nymex Holdings. Exchange chairman Ahmad Sharaf confirmed that Morgan Stanley, Vitl Group, Concord Energy and Royal Dutch Shell have also bought stakes of an undisclosed size in the company, which is trying to attract international investors and expertise to the bourse in a bid to become a major player in the global crude oil market. Sharaf went

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