Oman International Development & Investment S.A.O.G (Ominvest) has revised some of the terms of its offer made last week to acquire Oman's Ahli Bank.

According to the revised offer, the investment firm said the consortium it leads will now make an offer to acquire up to 75% of the lender, rather than the entire issued share capital.

The consortium will make an increased cash offer of 200 baiza ($0.52) per share to all the shareholders of Ahli Bank, it said in a statement on the Muscat Securities Exchange on Wednesday. Previously, Ominvest had proposed a base price cash offer of 185 baiza with varying premia for long-term, financial and other investors.

Ominvest, through its fully-owned subsidiary, currently owns 8.68% shareholding in Ahli Bank. The consortium intends to acquire up to 66.32% of the issued share capital of Ahli Bank with the objective to own up to 75%. The bank will maintain a minimum free float of 25%.

Ominvest said Ahli United Bank as the strategic long-term investor in Ahli Bank will be paid 200 baizas per share in full for their 35% shareholding amounting to 136.5 Omani rials ($355 million).

Shareholders will have the option to receive a minimum of 55.6% consideration in cash.

(Writing by Brinda Darasha; editing by Seban Scaria)