Goldman Sachs finalizes ADX-DFM merger study

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Goldman Sachs has completed a study on the merger of Dubai Financial market (DFM) and Abu Dhabi Securities Exchange (ADX), Al Bayan newspaper reported.

The study was submitted to Emirates Investment Co., which supervises the merger. Afterwards, the study, which had been started in Q4-10, was referred to higher authorities pending approval.

Special focus was paid to ADX asset valuation, as the market is a state-owned bourse. However, DFM was a public shareholding company, whose assets can be evaluated through the market value of listed stocks. The study details are being treated as top confidential.

The potential entity is expected to gain a strong foothold regionally and globally, analysts confirmed.

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