Founded in 2007, DME lists the Oman crude oil futures contract, which is a physically settled contract serving as a Middle East benchmark used by the region's national oil companies as part of their export pricing formulas.
Tadawul will acquire a mix of new and existing shares in DME Holdings for $28.5 million in return for its 32.6% stake, with an option to increase the shareholding.
Under the deal, the Saudi stock exchange owner will become the joint largest shareholder alongside CME Group, "with other shareholders including the Oman Investment Authority and Dubai Holding as well as global financial and commercial industry leaders", it said.
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