• The acquisition sees Saudi Tadawul Group Holding Company become the joint largest shareholder in DME Holdings Limited, the parent company of Dubai Mercantile Exchange (DME), alongside CME Group, through the acquisition of a mix of new and existing shares.
  • Completion of the acquisition follows receipt of all regulatory approvals, including the Dubai Financial Services Authority, as well as the satisfaction of other customary commercial conditions.

Riyadh, KSA and Dubai, UAE: Further to the announcement made on 18 January 2024 with respect to a binding agreement to acquire a 32.6% strategic stake in DME Holdings Limited, Saudi Tadawul Group Holding Company (the Group), a leading diversified capital markets group in the MENA region, is pleased to announce that it has completed the acquisition in DME Holdings Limited, one of the leading international commodities exchanges.  As a result of the transaction, the Group is the joint largest shareholder in DME Holdings Limited alongside CME Group, with other shareholders including the Oman Investment Authority and Dubai Holding as well as global financial and commercial industry leaders. Consequently, DME will be rebranded as the GME.

The investment from the Group represents a significant opportunity to leverage world-class capabilities and expertise, accelerating GME’s growth as a regional commodities leader that is well-positioned to capture global commodity demand. It will support a strategic move towards leveraging the Middle East’s geographic proximity to both key commodity production hubs and end-markets, with GME serving as a bridge between production and end-markets. Furthermore, the partnership will enable GME to capture demand for energy, metals, and agricultural commodity markets and support the ongoing global transition to a sustainable economy through the launch of next-generation derivatives contracts.

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About Dubai Mercantile Exchange Limited

Dubai Mercantile Exchange Limited (DME) is the premier energy-focused commodities exchange east of the Suez and home to the world's third crude benchmark. A total of 20 billion barrels of Omani crude oil have traded on the exchange since inception in June 2007, while 3 billion barrels have been delivered via the DME’s physical delivery mechanism over the same period.

DME Holdings Limited is a joint venture between Dubai Holding, Oman Investment Authority and CME Group, and is the parent company of DME. In addition to its core shareholders, global financial institutions and energy trading firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, Shell, Vitol and Concord Energy have taken equity stakes in DME Holdings Limited, providing the exchange with a resounding vote of confidence from major players in global energy markets.

DME is located within the Dubai International Financial Center (DIFC) and regulated by the Dubai Financial Services Authority. All trades executed on DME are cleared through and guaranteed by CME Clearing. CME is regulated by the U.S. Commodity Futures Trading Commission (CFTC) and is a recognized body by the DFSA.

About Saudi Tadawul Group

Founded in 2021 and headquartered in Riyadh, Saudi Tadawul Group (www.tadawulgroup.sa) is a holding company with a portfolio of four integrated subsidiaries: the Saudi Exchange, one of the largest 10 stock exchanges in the world by market capitalization, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and Wamid, an innovative applied technology services business. Saudi Tadawul Group was established as part of a continuous development program focused on enhancing the capital market and its infrastructure, attracting foreign investments, and diversifying the Saudi economy. The Group reinforces Saudi Arabia’s position as an attractive global investment destination and the gateway to the MENA region. Saudi Tadawul Group supports the development of an advanced capital market in Saudi Arabia; one of the pillars of the Financial Sector Development Program (FSDP), a Saudi Vision 2030 realization program.

About CME Group

As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.

About Oman Investment Authority

Oman Investment Authority (OIA) is the investment arm of the Sultanate of Oman, established by Royal Decree No. 61/2020. It is a sovereign wealth fund operating as an autonomous legal entity with complete financial and administrative independence, reporting directly to the Council of Ministers of the Sultanate of Oman. Its primary mandate encompasses the prudent management of the Sultanate of Oman's funds and assets, with a strategic focus on optimizing returns and contributing to implementing Oman Vision 2040.

OIA is entrusted with managing, investing, and developing the nation's national and international assets. With a diverse investment portfolio both locally and globally, OIA invests in over 50 countries, targeting various sectors, including food, energy, logistics, ICT, services, finance and investment, food security, tourism, mining, industry, and aviation. OIA is committed to driving sustainable economic growth and contributing to the well-being of Oman's people while also supporting the Sultanate's vision of becoming a leading investment destination in the region.

About Dubai Holding

Dubai Holding is a diversified global investment company with investments in more than 30 countries and a combined workforce of more than 40,000 people. Established in 2004, Dubai Holding touches the lives of millions of Dubai residents and visitors through its extensive portfolio of over AED 265 billion worth of assets that support the diversification and sustainable growth of Dubai’s economy across 10 key sectors: real estate, hospitality, leisure & entertainment, media, ICT, design, education, retail, manufacturing & logistics and science. In March 2024, under the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Nakheel and Meydan were integrated into Dubai Holding, forming a global economic entity with an expanded portfolio.

Our portfolio includes: Dubai Holding Real Estate, one of the largest landowners and integrated master developers in Dubai; Dubai Holding Asset Management offers a world-class portfolio of 25 residential communities, 15 lifestyle destinations, 10 malls and 22 pavilions in addition to being the majority strategic shareholder in TECOM Group PJSC, which consists of 10 business destinations catering to six vital knowledge-based economic sectors; Dubai Holding Hospitality, which manages leading hospitality assets and a diverse collection of unique F&B concepts as well as top-notch hotel brands, including Jumeirah, Dubai Holding’s flagship hospitality brand and global luxury hotel company; Dubai Holding Entertainment, the largest and most diversified media, leisure and entertainment company in the region, which comprises leading leisure venues such as Ain Dubai, Global Village, Dubai Parks and Resorts, ARN, Roxy Cinemas and The View at The Palm amongst others; and Dubai Holding Investments, a dedicated investment arm responsible for the Group’s investment strategy and managing a diverse portfolio of strategic and financial investments across public and private markets in the UAE and internationally to drive diversification for the Group and seek attractive risk-adjusted returns. It has investments in Emirates NBD, Warsan Waste Management Centre, Du and Azadea, as well as joint ventures and partnerships with Brookfield, Emaar, Aldar and others.

www.dubaiholding.com   

Media Contacts:
DME:
Mayssam Hamadeh
Head of Corporate Communications
mayssam.hamadeh@dubaimerc.com

Saudi Tadawul Group
Hind Alassaf / Abdullah AlSharif
hind.assaf@Tadawulgroup.sa
abdullah.sharif@Tadawulgroup.sa

TRACCS (PR agency):
Walid Majzoub
walid.majzoub@traccs.net