Emirates NBD Completes Full Acquisition of EIB Shares
Emirates NBD has successfully completed the mandatory acquisition of all remaining shares in Emirates Islamic Bank, solidifying its ownership.
Summary
Emirates NBD has finalized its acquisition of all Emirates Islamic Bank shares, achieving 100% ownership. No objections were raised during the acquisition process.
In a significant move within the UAE banking sector, Emirates NBD Bank P.J.S.C. (ENBD) has completed the mandatory acquisition of all remaining shares in Emirates Islamic Bank P.J.S.C. (EIB), reaching 100% ownership. This acquisition, announced on April 8, 2025, marks a pivotal moment for both entities, aligning with ENBD’s strategic vision to consolidate its holdings and strengthen its position in the Islamic banking sector.
The acquisition process was initiated following a notification from ENBD, with the offer document dated February 27, 2025, outlining the terms. The process was conducted in accordance with Article (11) of the Decision of the Chairman of the SCA Board of Directors No. (18/R.M) of 2017, which governs acquisition and merger regulations in the UAE.
The acquisition concluded without objections, as confirmed by EIB on June 9, 2025, following the end of the objection period on June 7, 2025. Subsequently, on June 10, 2025, trading of EIB shares was suspended on the Dubai Financial Market (DFM) to facilitate the settlement of the acquisition procedures.
This full acquisition is expected to bring about a more streamlined operation for both banks, potentially enhancing service offerings and operational efficiencies. For investors, this consolidation could signal a stable and potentially lucrative investment opportunity as ENBD strengthens its market position. However, the integration process will require careful management to ensure smooth operations and maintain customer trust.
Given the strategic importance of this acquisition and the potential for future growth, investors might consider holding their positions to observe how ENBD leverages this acquisition to expand its market presence and enhance shareholder value.
Source
Summary
On 8 April 2025, Emirates Islamic Bank (EIB) received a notification from Emirates NBD Bank (ENBD) about a mandatory acquisition of all EIB shares not accepted by EIB shareholders, as per the Offer Document dated 27 February 2025, to achieve 100% ownership. The objection period for this acquisition ended on 7 June 2025, with no objections received. On 10 June 2025, the Dubai Financial Market suspended EIB share trading in preparation for the settlement of this acquisition. As of 16 June 2025, the mandatory acquisition procedures were settled in accordance with Article 11 of the SCA Board of Directors' Decision No. 18/R.M.
