Six financial institutions led by Goldman Sachs and a division of Royal Dutch Shell have taken a 20% equity stake in the Dubai Mercantile Exchange (DME), the Telegraph reports. The investors, which also include Morgan Stanley, have invested in the commodities exchange as increasing amounts of international capital are drawn into the region.
The external investments are the first in the exchange since it was set up as a joint venture between the Gulf state’s ruling family, Nymex Holdings, the parent company of the New York Mercantile Exchange, and the Oman Investment Fund. They will now hold 25%. The three other new investors that will share the 20% stake are Vitol Group, Casa Energy Trading and Concord Energy, while floor traders will hold the remaining 5%.
The full story is available at the Telegraph.co.uk web-site.