Oman’s Bank Dhofar offers terms of proposed merger to Bank Sohar

April 24, 2016 3:10 pm


Oman’s Bank Dhofar, in talks with Bank Sohar on a possible merger, said on Sunday that it communicated the terms for a deal to its smaller rival after completing due diligence.

 

Bank Dhofar, the sultanate’s second-largest lender by assets, said the financial and legal due diligence concluded on April 23, it said in a bourse statement.

 

The terms of the merger were not disclosed.

 

Bank Sohar, Oman’s fifth-largest lender, is considering the terms offered which may be subject to further discussion and negotiation, the statement said.

 

The merger would create the country’s second-largest bank with a market capitalisation of $1.81 billion and assets of $13.69 billion, Thomson Reuters data shows.

Tags:

Reuters
By Reuters
A division of Thomson Reuters, Reuters is an international news agency headquartered in London, England, and provides up-to-the-minute news and views on global and regional events.



AMEinfo EXPERTS