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Tue 16 Jul 2013 01:53 PM

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Oman's Bank Dhofar to start merger talks with Bank Sohar - Statement

Oman's Bank Dhofar to start merger talks with Bank Sohar - Statement

Bank Dhofar, the sultanate's second-largest bank by market value, said on Tuesday it would begin talks with fellow Omani lender Bank Sohar over a possible merger.

Any potential tie-up would be dependent on a similar desire to merge at Bank Sohar, satisfactory due diligence and the approval of both sets of shareholders and the regulatory authority, Bank Dhofar said in a bourse filing.

In February, Bank Sohar denied it had received any merger proposals from other banks, including Bank Dhofar, in response to local press reports.

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