UAE: Emirates NBD has announced that it will acquire 100% ownership of Emirates Islamic Bank (EIB) following its mandatory cash offer at AED11.95 (US$3.25) per share. The bank has secured acceptances from EIB shareholders amounting to 4.25 million shares, representing 0.07% of EIB’s issued and paid-up capital.
Upon final confirmation from the Dubai Central Securities Depository, Emirates NBD’s ownership of EIB is expected to reach 99.97% and settlement for the accepted shares will take place on or around the 7th April 2025.
