News & Announcements

TADAWUL GROUP

26 June, 2024 15:30

Saudi Tadawul Group Holding Co. Announces the latest developments regarding the signing of sale and purchase agreement to acquire a 32.6% strategic stake in DME Holdings Limited

Element List	Explanation
Introduction	In reference to the announcement made by the Saudi Tadawul Group Holding Co. (the "Group") on the (Saudi Exchange) dated Rajab 6th, 1445 AH (corresponding to January 18th, 2024G) with respect to the signing of sale and purchase agreement to acquire a 32.6% strategic stake in DME Holdings Limited. The Group is pleased to announce the completion of the acquisition transaction on Dhu Al-Hijjah 20th, 1445 AH (corresponding to June 26th, 2024G).
Previous Announcement	Saudi Tadawul Group Holding Co. announces the signing of sale and purchase agreement to acquire a 32.6% strategic stake in DME Holdings Limited.
Date of Previous Announcement on Saudi Exchange’s Website	2024-01-18 Corresponding to 1445-07-06
Hyperlink to the Previous Announcement on the Saudi Exchange Website	Click Here
Latest Developments Of The Announced Event	The Group is pleased to announce the completion of the acquisition transaction on Dhu Al-Hijjah 20th, 1445 AH (corresponding to June 26th, 2024G).
The costs associated with the event, and if they have changed or not with indication of the reasons.	The Group invested SAR 107 million ($28.5 million) by acquiring 32.6% stake in DME Holding Limited representing a combination of new and existing shares. The transaction will be funded by the existing Islamic Sharia-compliant banking facilities, which was announced on the (Saudi Exchange) dated Rajab 20th, 1445 AH (corresponding to February 1st, 2024G).
Additional Information	As a result of the transaction, the Group will invest indirectly in Dubai Mercantile Exchange Limited (DME), which is owned by DME Holdings Limited, and regulated by the Dubai Financial Services Authority. In addition, the Group will become the joint largest shareholder alongside CME Group (CME). The investment in DME Holdings Limited will be held by “Tadawul First Investment Company”, a wholly owned subsidiary of “Tadawul Investment Holding Company” (“TIH”) a wholly owned subsidiary of the Group. The aim of establishing the TIH is to be the strategic investment arm of the Group. The Group appointed Rothschild & Co as financial advisor for this Transaction. In addition, AS&H Clifford Chance acted as legal advisor and Deloitte Middle East acted as financial and tax due diligence and accounting advisor. In accordance with the relevant regulatory requirements, the Group will announce any material developments in due course (if any).

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