MUSCAT: Saudi Tadawul Group Holding Company (the Group), a leading diversified capital markets group in the MENA region, has announced that it has completed the acquisition of a 32.5 per cent 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 DME will be rebranded as the Gulf Mercantile Exchange (GME) to reflect its position as the key regional commodities exchange in the Middle East.
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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