According to the Dubai Financial Market data, "Emirates Dubai National Bank" already owns 99.8923% of the shares of "Islamic Bank of Emirates", and now plans to acquire the remaining 0.1077%.
Moscow: The minority shareholders of Islamic Bank of Emirates received a notification from Emirates Dubai National Bank about the proposed acquisition of all shares under the last mandatory offer. As a result of the deal, Emirates Dubai National Bank will acquire 100% of the outstanding and fully paid shares of Islamic Bank of Emirates for a total of 11.95 dirhams per each share.
The size of the authorized capital of Islamic Bank of Emirates amounts to 5,430,421,875 shares, which means that Emirates Dubai National Bank assesses the value of the bank at approximately 65 billion dirhams at a price of 11.95 dirhams per share.
