Aug 13 2011
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UAE firm buys stake in Dhofar Fisheries
"OEIHC has sold 993,811 shares in DFIC to Flag Holdings for RO899,399 based on an enterprise valuation of RO2.3mn," said Awad Mohammed Bamkhalef, chief executive officer of OEIH, in a filing to MSM. No official at OEIH, which is listed on both the Muscat and Abu Dhabi stock exchanges, was available for comment.
Earlier in June, OEIH announced its plan to divest its entire stake in loss-making DFIC and received an offer from Flag Holding to divest its entire 40.97 per cent stake at an enterprise valuation of RO2.3mn. But the Capital Market Authority (CMA) later approved the sale of 39.126 per cent stake at an enterprise value of RO2.3mn.
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