Ahli Bank receives Bank Dhofar’s confirmation of acquisition offer
Published: 02:06 PM,Jun 14,2023 | EDITED : 06:06 PM,Jun 14,2023
Ahli Bank SAOG says it has received a written note from Bank Dhofar confirming that its Board of Directors has offered to acquire the entire issued share capital of the former, pursuant to Takeover and Acquisitions regulations.
The publicly traded lender said in a filing that its Board of Directors is currently waiting to receive the official Offer Document from Bank Dhofar, which must first be approved by the regulatory authorities.
“The Board of Directors is carefully reviewing the terms of the offer and considering whether they should invite other potential buyers to make a competing offer,” Ahli Bank said in its filing.
It also noted that consortium led by Oman International Development & Investment SAOG (Ominvest) had previously expressed its intention to acquire up to 75 per ent of Ahli Bank's shares in a letter received on May 25, 2023.
“Ahli Bank is working closely with the regulatory authorities to ensure compliance with the rules and regulations for takeovers and acquisitions,” it further stated.
The publicly traded lender said in a filing that its Board of Directors is currently waiting to receive the official Offer Document from Bank Dhofar, which must first be approved by the regulatory authorities.
“The Board of Directors is carefully reviewing the terms of the offer and considering whether they should invite other potential buyers to make a competing offer,” Ahli Bank said in its filing.
It also noted that consortium led by Oman International Development & Investment SAOG (Ominvest) had previously expressed its intention to acquire up to 75 per ent of Ahli Bank's shares in a letter received on May 25, 2023.
“Ahli Bank is working closely with the regulatory authorities to ensure compliance with the rules and regulations for takeovers and acquisitions,” it further stated.