Wednesday, Mar 06, 2013
DUBAI (Zawya Dow Jones)--Oman Investment and Finance Co. (OIFC.ON) on Wednesday said it has acquired a 15% stake in Bank Sohar (BKSB.ON), a local lender.
OIFC, in a statement posted on the Muscat bourse website, said the share purchase was in line with the company's long-term strategy and after approval from the Central Bank of Oman.
Bank Sohar was in the spotlight last month amid market speculation about its possible merger with Bank Dhofar (BKDB.ON), which was denied by both the lenders at the time.
Bank Sohar shares traded down 1.1% at OMR0.187 early Wednesday, while OIFC slipped 0.4% to OMR0.267.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
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(END) Dow Jones Newswires
06-03-13 0604GMT
