Qatar’s Commercial Bank to acquire 15.2% stake in National Bank of Oman

Qatar’s Commercial Bank has announced an offer to acquire 15.2 per cent of the issued capital of National Bank of Oman.

This deal is expected to boost Commercial Bank’s stake over 50% keeping it as the biggest shareholder ahead of the government of Oman’s 26.18% stake.

Commercial Bank in a statement said according to the pursuant to article 2 of the merger and acquisition rules of the Qatar Financial Markets Authority (QFMA). The bank is required to disclose certain (unless otherwise defined, definitions have the same meanings as given to them in the Rules),some of the rules are

The name of the Offeror Company which is Commercial Bank, its objectives, headquarters, address, capital, names of Top Major Shareholders and Management members and the shareholding percentage of each of them in the Offeree Company which is National Bank of Oman.

The Offeree Company’s name, its headquarters, nationality, objectives, address and capital.

A list of the names of Major Shareholders / owners of the Offeree Company, the number and ownership percentage of each of them and the ownership percentage of the Offeror Company, if any.

About Qatar’s Commercial Bank

The Commercial Bank headquartered in Doha, Qatar is one of the private sector bank which is operating since 1975. The bank offers various services across corporate and retail banking divisions.

It plays a major role in the economic development of Qatar by providing services across business, personal, international, government and investment services.

About National Bank of Oman

The National bank of Oman found in 1973 which is headquartered in Muscat, Oman was the first incorporated bank in Oman, with an initial capital of 500,000 Omani Rial commenced its operations with two branches in 1973.

The bank has over 60 branches across Oman providing services in corporate banking, retail banking, treasury and international banking, investment banking, and Islamic banking.