UAE | General
BNP Paribas sells stake in Oman bank
France's BNP Paribas has sold its minority stake in Oman's Bank Dhofar Al Omani Al Fransi to a state pension fund for 4.23 million Omani rials ($11 million), a bank official said yesterday.
- Reuters
- Published: 00:00 December 26, 2001
France's BNP Paribas has sold its minority stake in Oman's Bank Dhofar Al Omani Al Fransi to a state pension fund for 4.23 million Omani rials ($11 million), a bank official said yesterday.
"I can confirm the Civil Service Ministry's pension fund has bought BNB Paribas' entire share in Bank Dhofar," Ahmed bin Ali Al Shanfari, general manager of Bank Dhofar, told Reuters.
He said BNP Paribas sold 2.117 million shares, or about six percent of Bank Dhofar's equity, at two rials per share on Monday through the Muscat Securities Market.
"Bank Dhofar is now 92 percent owned by Omani shareholders and the rest of the stakes are held by private investors in the United Arab Emirates (UAE)," Al Shanfari added.
On Monday, Bank Dhofar's shares dominated trade on the bourse, climbing 20 baisas higher to close at 2.300 rials.
Latest news
- Dubai number plates auction raises Dh27m
- Youngsters dance and raise cash for charity
- Dubai departments upgrade services
- Get yourself a free test for diabetes
- Ensuring a safety net for intellectual property
- Reader's issue addressed
- 5,552 illegals held in Dubai this year
- Man cleared because he took drugs in France
- Man charged with trafficking women
- Auditors to probe Mizin graft case
- Breaking down cultural barriers with photographs
- Abu Dhabi Crown Prince visits Islamic centre
- Transfusion centre launches new toll free number
- Smart e-Gate system launched
- Cyber infidelity creeping out of virtual domain
Community Reports
-
Mirror, mirror show me the way
Driver on Salam Street had so many boxes and fruits piled into car, he would not be able to view rear or right side mirrors
-
Parents should be more vigilant
Reader's picture highlights risk of negligence by caretakers
-
Warming up to ‘Mobilise the Earth' theme
Dubai school dedicates a whole week to celebrating Earth Day with can-collection drives, sapling plantation and painting competition among others
-
Drivers using mobiles put others' lives at risk
Speeding is dangerous for the driver and other motorists
