Dubai Financial Market PJSC, the only Gulf Arab stock market to sell shares to the public, has offered to acquire 100 percent of Nasdaq Dubai for $121 million.
The company made an offer to Borse Dubai Ltd. and the Nasdaq OMX Group Inc, and it comprises $102 million in cash and 40 million Dubai Financial Market shares, according to an e- mailed statement today.
The transaction has been endorsed by DFM’s board in its meeting on Dec. 21 and is subject to certain closing conditions, including the receipt of regulatory approvals, it said.
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