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.
Share this article
More from UAE General
More from UAE
Popular in UAE
-
Your pictures
Readers' pictures
The best reader pictures from around the UAE this week
Latest news
- Dance group brings taste of Korean culture to Abu Dhabi
- EAD studies focus on water security
- Dubai Press Club marks 10th anniversary
- Visitors flock to see latest offerings at Sharjah book fair
- UAE combats human trafficking
- Ministry denies hijacking of UAE-flagged ship
- Saif meets special needs centre users
- Man says he repaid 95% of amount he embezzled
- Dubai saleswoman claims she was duped, raped
- Female clerk, waiter deny drug trafficking charges
- Gulf health officials slam unethical advertising
- The blue-chip boy
- Live hoardings: Ad a glance
- Gem of a woman
- Dewa charges: It's a bitter bill
Community Reports
-
Help me find my precious cat
Raif, my cute eight-month-old ‘fur ball', went missing in Abu Dhabi's Al Bateen area last month
-
Pavement parking irks pedestrians
Gulf News reader calls on authorities to step in and stop car owners from invading pathways meant for safe walking
-
Faded parking lines pose a problem
Motorists could be fined for parking incorrectly even though they can hardly see the boundaries in the designated areas
-
School buses block residential parking
Commercial vehicles taking up free parking facilities in Al Wuheida, inconveniencing residents in surrounding villas
