Please wait...
GulfBase Live Support
- Design, masterplan for new 24,000-seat Zayed City stadium unveiled
- Boubyan maintains its Islamic digital banking leadership, globally, regionally and domestically
- 2025: A record-breaking year for NBK in training national talents
- Alba celebrates graduation of second batch from BEng programme
- Buraimi Industrial City attracts RO20mn in new projects in 2025 first half
- Oil declines with Gaza peace plan and US inventories in focus
- Tunnel excavation work starts for Oman-UAE rail project
- KONE named vertical mobility partner for mega skyscraper Jeddah Tower
- Fertiglobe to return minimum $277 million to shareholders in 2025 amid strong strategic progress
- Multiply Group to acquire a majority stake in Italy-based ISEM Packaging Group
25/08/2015 08:17 AST
Talks for a possible takeover of Oman's United Finance by Al Omaniya Financial Services have broken down and will not progress any further, the two sides said on Monday.
The board of United Finance met on Sunday to discuss the proposal but decided that Al Omaniya had not made "an acceptable financially binding offer", according to a United Finance bourse filing which did not elaborate further.
In a separate bourse filing, Al Omaniya said it had submitted a non-binding bid which was subject to due diligence. United Finance then "insisted on a commercially binding offer before the due diligence", a condition which Al Omaniya did not want to accept and so talks ended.
United Finance has a market capitalisation of $113.8 million, according to Reuters data, while Al Omaniya's market value is $197.8 million.
Al Omaniya's was the final offer left on the table after an initial three-way battle among financial institutions in the sultanate for United Finance, which offers loans and leasing services as well as corporate deposits.
In May, United Finance invited National Bank of Oman, Bank Nizwa and Al Omaniya to participate in a bidding process. The other two institutions later decided not to bid, leaving Al Omaniya as the only potential purchaser.
Shares in both United Finance and Al Omaniya didn't trade on Monday as the main Muscat bourse was again buffeted by global market turbulence, closing 3 percent down.
Trade Arabia
13/06/2025
United Finance Company on Wednesday announced the successful completion of its privately placed, senior unsecured bond issuance, which was oversubscribed by 71%. Strong investor demand enabled the co
Muscat Daily
31/01/2018
The board of United Finance Company has proposed to reduce the company's paid up capital from OMR34.91 million to OMR25 million. This will be done by returning the par value of the shares (100 baisa
Times of Oman
01/07/2015
Al Omaniya said separately that it had submitted an indicative bid to buy 100 per cent of the shares in United Finance.
Oman's United Finance said on Tuesday its board was considering a no
Gulf News
| Ticker | Price | Volume |
|---|
09/10/2025
Once again, Boubyan Bank reinforces its global, regional and domestic digital banking leadership after being recognized with 4 prestigious awards from Global Finance, as part of its annual awards giv
Kuwait Times
09/10/2025
Guided by its philosophy that sees human capital investment as the foundation of sustainable growth, National Bank of Kuwait successfully concluded its 2025 training program for university students,
Kuwait Times
09/10/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, celebrated the graduation of its second batch of employees from the Top-Up Bachelor of Engineering (BEng) programme in Ele
Trade Arabia
09/10/2025
Fertiglobe, the largest seaborne exporter of urea and ammonia globally and a key nitrogen fertiliser producer in the MENA region, has announced a minimum capital return of $277 million to shareholder
Khaleej Times
09/10/2025
Multiply Group, an Abu Dhabi-based investment holding company, on Wednesday announced that it will acquire a majority position in ISEM, a European leading packaging group, subject to regulatory appro
Khaleej Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia