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Sun 20 Jul 2014 01:18 PM

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Ominvest says to explore possible ONIC Holding merger

Omani investment firm reveals initial approach to rival company to explore strategic arrangement

Ominvest says to explore possible ONIC Holding merger

Oman International Development and Investment Co (Ominvest) said on Sunday it had written to fellow investment firm Oman National Investment Corp Holding to open talks on a possible merger.

"Ominvest would like to disclose that it has written to ONIC Holding to explore a possibility to form a strategic arrangement between the two organisations," Ominvest said in a bourse filing.

Any potential tie-up between the pair would be subject to both firms agreeing terms as well as receiving the approvals of shareholders and regulators, the statement added.

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