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27 February 2024

Oman funds keen on Bank Muscat stake


By Reuters

Four Omani pension funds are interested in buying Dubai Holding's stake in Bank Muscat through a consortium, two officials close to the pension funds said.

The pension funds want to buy the conglomerate's entire stake in Oman's largest lender or a portion of it at "market price", one official said.

Last week, analysts said the conglomerate was looking to sell the stake.

"We, as a consortium of pension funds, are interested to buy partly or wholly from them at market price and not premium price," one of the officials said.The funds are not in direct talks with Dubai Holding.

Dubai Holding has a 15 per cent stake in Bank Muscat, worth more than $350 million (Dh1.29 billion) on current market prices.


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