Dubai Islamic Bank P.J.S.C (DFM:DIB) made an offer to acquire the remaining 41.8% stake in Tamweel PJSC (DFM:TAMWEEL) for approximately AED 470 million in stock on January 3, 2013 Each Tamweel shareholder will be offered 10 Dubai Islamic shares for every 18 Tamweel shares held by them. After the closing of the offer, Dubai Islamic Bank intends to delist Tamweel shares from the Dubai Financial Market. The offer will close on March 16, 2013.

The transaction has been approved by the Board of Dubai Islamic Bank and is subject to approval by all regulators, including the Ministry of Economy, the Securities and Commodities Authority of the UAE, the UAE Central Bank and the Dubai Financial Market and approval by the shareholders of Dubai Islamic Bank. As of March 5, 2013, the transaction was approved by the shareholders of Dubai Islamic Bank. As of March 18, 2013, the tender offer will close on March 30, 2013 and was approved by regulators.

PricewaterhouseCoopers (Middle East Region), Investment Banking Arm acted as financial advisor for Dubai Islamic Bank.