Dubai-Mubasher: Dubai Islamic Bank (DIB) received a letter of intent from a consortium led by Bank Al Etihad for the acquisition of MESC Investment, according to a bourse statement.
MESC owns 52% stake in Amman-listed Jordan Dubai Islamic Bank.
DIB holds 40% of MESC’s shares via its wholly owned subsidiaries Petra Limited and Levant One Limited.
DIB will post further updates on the transaction when it reaches the finals terms of the sale and purchase agreement.
