DIB says holding company completes stake sale in Jordanian bank

Dubai: Dubai Islamic Bank (DIB) said on Wednesday its holding company has completed a sale of its stake in Jordan DIB.

DIB held a 20.8 per cent stake in JDIB via 40 per cent shareholding in MESC, the bank said in a statement posted on Dubai Financial Market’s website.

MESC sold off its stake in Jordan DIB to Bank Al Etihad and Etihad Islamic Investment Company.

The transaction was advised by PricewaterhouseCooper (Dubai Branch) and the legal adviser was Herbert Smith Freehills.