Dubai – Mubasher: MESC Investments, a 40% unit of Dubai Islamic Bank (DIB), has sold its 20.8% stake in Jordan Dubai Islamic Bank (JDIB) to Bank Al Etihad and Etihad Islamic Investment Company.

“All the necessary conditions for the transaction have been satisfied,” according to a bourse statement.

PricewaterhouseCooper (Dubai Branch) acted as a financial advisor and Herbert Smith Freehills as legal advisor

DIB’s stock rose 0.53% or AED 0.03 to reach AED 5.65, while JDIB’s stock went up 0.8% to AED 1.32.