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13/11/2017 06:24 AST
Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The company has entered into a share sale and purchase agreement with Oman National Investment Corporation (ONIC) for selling 62.943 million shares of Ominvest at a price of OMR0.495 per share, according to a disclosure statement posted on MSM website.
This transaction will have a positive impact on AAH's profit and loss account for 2017-18 of around OMR3.67 million.
The sale proceeds from this transaction will be utilised towards partial debt repayment and making opportune investments going forward. Post this transaction AAH along with its subsidiaries will have 1.15 per cent stake in Omivest.
In another deal, Ominvest has signed a portfolio sale purchase agreement with Al Anwar Holding for the sale of its shareholding in Oman Chlorine S.A.O.G (15.11 per cent), National Detergent Co. (20.94 per cent) and National Biscuit Industries (28.92 per cent) for a total consideration of OMR 11.57 million.
This is in alignment with AAH's core investment philosophy of making strategic investments in the industrial sector in Oman.
Times of Oman
16/11/2017
AccorHotels, an international hotel chain, has signed a management agreement with Al Anwar Holdings SAOG for its brand new hotel - Novotel Muscat Athaiba. The agreement was signed by Masoud al Harthy
Oman Daily Observer
19/01/2017
Al Anwar Holdings SAOG (AAH), an Oman-based company listed on the Muscat Securities Market, has announced that it will be divesting part of its holding in Falcon Insurance Company SAOC.
The
Oman Daily Observer
07/08/2014
Al Anwar Holding said its net profit surged ahead by 28 per cent to OMR1.59 million for the first quarter ending June, 2014.
The investment company's total income also rose 26 per cent to
Times of Oman
06/02/2025
Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom's
Arab News
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
Financial Information Co.
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