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equities|30 October, 2019

Oman & Emirates Investment proposes merger with FINCORP

OEIHC has received a response from FINCORP expressing the company’s agreement to initiate talks to assess the mutual benefits of the proposed transaction

  
Image used for illustrative purpose only. An investor works on his computer on the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

Image used for illustrative purpose only. An investor works on his computer on the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

REUTERS/STR New
By Staff Writer, Mubasher

Abu Dhabi – Oman & Emirates Investment Holding Co (OEIHC), listed on the Muscat Securities Market and the Abu Dhabi Securities Exchange (ADX), has sent a merger proposal to the board of the Financial Corporation (FINCORP).

OEIHC has received a response from FINCORP expressing the company’s agreement to initiate talks to assess the mutual benefits of the proposed transaction, according to a bourse statement released on Wednesday.

“We shall disclose the steps that will be taken in this regards,” OEIHC said.

Earlier in October, OEIHC reported its preliminary financial results for the third quarter of 2019 which showed a net loss of OMR 290,221.

Source: Mubasher

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