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Goldman Sachs (GS Quote) and Morgan Stanley (MS Quote), along with four energy trading firms, have bought equity interests in the Dubai Mercantile Exchange.
The two financial institutions, alongside energy companies Vitol, Concord Energy, Casa Energy Trading and a Shell (RDS.A Quote) company, invested in the exchange. The DME's board had approved the release of an indirect equity stake of up to 20% in the exchange. Terms of the investments announced Monday, however, were not disclosed.
The DME was formed last year as a joint venture between the New York Mercantile Exchange, Tatweer, a member of Dubai Holding and the Oman Investment Fund. ...
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