Wednesday 04, January 2017 by Isla MacFarlane

DIB holding company sells stake in Jordan Dubai Islamic Bank

MESC Investments PSC (MESC), a unit of Dubai Islamic Bank (DIB), has completed the sale of its stake in Jordan Dubai Islamic Bank (JDIB).

MESC Investments PSC (MESC), a unit of Dubai Islamic Bank (DIB), has completed the sale of its stake in Jordan Dubai Islamic Bank (JDIB).

Bank Al Etihad and Etihad Islamic Investment Company have bought MESC’s stake for an undisclosed sum.

Dubai Islamic Bank (DIB) held a 20.8 per cent stake in JDIB through a 40 per cent shareholding in MESC.

“All the necessary conditions for the transaction have been satisfied,” DIB said in a bourse filing said. “Our transaction advisors included PricewaterhouseCooper (Dubai Branch) as financial advisor and Herbert Smith Freehills LLP as legal advisor.” 

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