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Bank Muscat reaches agreement to sell 72.71% stake in Muscat Capital to SICO
StockMarketWire.com
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Bank Muscat said it had reached an agreement with SICO to move ahead with the sale of a 72.71% stake in its subsidiary Muscat Capital after concluding the necessary due diligence and negotiations.
Upon completion of the deal, Bank Muscat would own approximately 9% shareholding in SICO.
The closing of the transaction was subject to receipt of requisite regulatory approvals in Sultanate of Oman, Kingdom of Bahrain and Kingdom of Saudi Arabia.
Story provided by StockMarketWire.com
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