Published: Oct 01, 2014
Source: Muscat Daily


Email this story Print this page zoomin zoomout

OIF to acquire Al Anwar's 33.6% stake in Taageer

Oman Investment Fund (OIF) will acquire Al Anwar Holdings’ entire 33.63 per cent stake in Taageer Finance Co.

The board of governors of the Central Bank of Oman (CBO), at its meeting held on Monday, approved the sovereign wealth fund’s application to pick up the stake. Al Anwar Holdings, in a filing with the MSM on Tuesday, confirmed the central bank’s clearance for the sale.

“We are awaiting a formal approval from the CBO,” it added. In July, Al Anwar said it had signed the share-purchase agreement with a ‘local institution’ - the name of which it did not disclose - adding that the acquisition was subject to approval from CBO and CMA.

In a separate disclosure, Al Anwar said that the price agreed to was 162bz per share and that it expected to record a profit of RO269,000 in the group financials and RO2.84mn in parent company’s financials from the transaction.

Taageer Finance closed Tuesday’s trading at 153bz. Al Anwar is the largest shareholder in Taageer. Other major shareholders are Arab Investment Co (18.79 per cent) and Iran Foreign Investment Co (12.49 per cent).

© Copyright - Muscat Daily
comments powered by Disqus

Middle East Stock Markets

Index Last Change %Change
TASI 5,651.80 +129.23 2.34%
ADI 4,294.46 -14.57 -0.34%
DFMGI 3,340.49 +21.01 0.63%
QE 10,438.45 -13.65 -0.13%
KSE 5,321.46 +6.23 0.12%
MSM30... 5,562.310 -30.570 -0.55%
ASE... 2,117.27 -3.75 -0.18%

Recent Analyst Actions  >>

Company Price Opinion
Saudi Telecom Co. 68.90 Overweight
Abdul Mohsen Al-Hokair Group 40.50 Overweight
Bupa Arabia for Cooperative 137.60 Overweight
The Saudi British Bank 27.30 Strong Buy
Samba Financial Group 27.50 Strong Buy

Markets Today Quick Links


Get all the latest updates about the GCC & Global Markets directly to your email