Thursday, Jun 28, 2012
(This story was originally published Wednesday)
BEIRUT (Zawya Dow Jones)--Oman and Emirates Investment Holding Co., or OEIHC, Wednesday said it has sold the nearly 33 million shares representing its 39.63% stake in Oman Medical Projects Co. at 0.125 Omani rial ($0.32) a share, as the company moves towards restructuring its investment profile.
"This sale transaction has resulted in a net profit of OMR3.13 million to the parent company and OMR3.03 million to the group," OEIHC said in a statement posted on the Muscat bourse website.
The investment and asset management firm didn't name the buyer but it said in May that it had received the Capital Market Authority's approval to sell the stake to Saudi Medicare Co.
The company's shares are Wednesday trading -1.6% at OMR0.122 in a negative overall market.
OEIHC said earlier this month that it has sold its 2.15% equity stake in PepsiCo's franchise bottler Oman Refreshment Co. This was one of a number of divestments carried by the company in recent years, according to Zawya.com data.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
28-06-12 0339GMT
