Monday, August 11, 2008

Dubai Mercantile Investors Include Goldman, Morgan Stanley

Goldman Sachs Group Inc. Morgan Stanley and four energy-related 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, according to AP.

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. and Casa Energy Trading, bought their stakes after the exchange's board approved a 20% sale.

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