CME Group Inc. (CME), the world’s largest futures exchange owner, raised it stake in the Dubai Mercantile Exchange as part of a recapitalization arrangement.
CME Group’s Nymex division will increase its stake to 50 percent from 25 percent, while Oman Investment Fund will hold 29 percent, according to a PRNewswire statement released today. Dubai Mercantile will receive “significant new funds,” Chief Executive Officer Thomas Leaver said in a conference call, without providing further financial details.
A unit of Dubai Holding LLC, one of the emirate’s three main holding companies, will retain 9 percent, while 12 percent will be held on a non-voting basis by investors including Vitol Group of Cos., Royal Dutch Shell Plc (RDSA), JPMorgan Chase & Co. (JPM), Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and Concord Energy Inc.
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