Doha Bank shareholders approve India assets buy — statement

Dubai:

Shareholders of Doha Bank have approved the purchase of the Indian assets of HSBC Bank Oman after an extraordinary meeting, the Qatari bank said in a statement on Monday.

HSBC Bank Oman, an affiliate of HSBC Holding, said in April it had agreed to the sale of its Indian business to Doha Bank and the Qatari lender’s board authorised the purchase in September.

The value for the transaction was reported as about 75 million riyals ($20.6 million) by Qatar-based newspaper Gulf Times.