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Tue 23 Jun 2015 02:32 PM

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Oman approves Ominvest, ONIC Holding merger plan

Oman Central Bank gives nod following approval from both sets of shareholders and boards

Oman approves Ominvest, ONIC Holding merger plan

The central bank of Oman has approved the proposed merger of Oman International Development and Investment Co (Ominvest) and Oman National Investment Corporation Holding, a statement from the regulator said on Tuesday.

The assent was granted at a board of governors' meeting on Monday, the statement said without elaborating.

Shareholders and boards of both companies had already approved the merger, which will see ONIC Holding shareholders receive 1.052 Ominvest shares for every share held.

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