Ominvest-led Consortium Makes Acquisition Offer to Ahli Bank

Ominvest-led Consortium Makes Acquisition Offer to Ahli Bank

Muscat, 17 May, 2023: Oman International Development and Investment Company (Ominvest), the leading investment company in the Sultanate, announced that the major shareholders of Oman Arab Bank SAOG (OAB) have formed a Consortium with a firm intention to make an offer for the entire issued share capital of Ahli Bank SAOG (Ahli Bank) under the Takeover and Acquisition Regulations issued by CMA.

Ominvest leads the Consortium, and the offer will be made by certain entities separately controlled by Ominvest and Arab Bank plc. Certain other investors have also expressed their intention to participate in the Consortium and offer at a later stage if required. As part of good governance and careful evaluation of material and price-sensitive information, Ominvest made appropriate disclosures on the Muscat Stock Exchange on 16 May 2023.

Commenting on the offer, AbdulAziz Al-Balushi, the Group CEO of Ominvest, said, “The Consortium sees Ahli Bank as one of the best-performing banks in the Sultanate of Oman, with a capable leadership team and leading operating and risk systems. The Consortium members will be strong and committed anchor shareholders of Ahli Bank, supporting its growth during the intervening period and preparing it for a potential merger with OAB in due course, under