Emirates Islamic to be privatised by Emirates NBD
Deal News | Mar 12, 2025 | Zawya
Dubai-listed lender Emirates Islamic has accepted an offer from its majority shareholder, Emirates NBD, to buy the remaining shares it holds. Following the acceptance of the offer, Emirates Islamic will be de-listed from the Dubai Financial Market. Emirates NBD currently possesses 99.89% of Emirates Islamic's shares and plans to acquire the remaining shares for AED 11.95 per share, equivalent to $3.25. The offer will be recommended to the bank's shareholders following an evaluation report conducted by KPMG. As part of the acquisition, the shares will be re-registered in the name of Emirates NBD, marking a significant strategic step for both institutions.
Sectors
- Banking
- Financial Services
Geography
- United Arab Emirates – This is the primary geography as both Emirates Islamic and Emirates NBD are UAE-based entities operating within the nation's financial market.
Industry
- Banking – The primary industry involved, as the article discusses the acquisition of shares in a banking institution.
- Financial Services – Emirates NBD and Emirates Islamic operate within the broader financial services sector, focusing on banking and investment.
Financials
- AED 11.95 per share ($3.25) – The price at which Emirates NBD will acquire the remaining shares of Emirates Islamic.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Emirates Islamic (EIB) | Target Company | Company | A Dubai-listed Islamic lender being acquired by Emirates NBD. |
| Emirates NBD | Bidding Company/Buyer | Company | The majority shareholder in Emirates Islamic, acquiring the remaining shares. |
| KPMG | Valuation Advisor | Company | Provided the valuation report for the acquisition offer. |