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36

Goldman Sachs, Morgan Stanley Buy Stakes in Dubai Mercantile Exchange

Goldman Sachs Group Inc., Morgan Stanley and four energy companies are taking minority stakes in Dubai Mercantile Exchange Ltd

Goldman Sachs Group Inc., Morgan Stanley and four energy companies are taking minority stakes in Dubai Mercantile Exchange Ltd., adding clout to the fledgling exchange as it seeks to establish itself as a major player in the global crude oil market.

The exchange said Monday that the new investors, which also include a division of Royal Dutch Shell PLC and energy trading companies Vitol, Concord Energy Pte Ltd, Casa Energy Trading, bought their stakes after the exchange's board approved a 20 percent sale.

Financial terms of the deal and the size of the investors' stakes were not disclosed.