Oman’s United Finance weighs takeover offer from Al Omaniya

Dubai: Oman’s United Finance said on Tuesday its board was considering a non-binding takeover offer from Al Omaniya Financial Services. Al Omaniya said separately that it had submitted an indicative bid to buy 100 per cent of the shares in United Finance.

In May, United Finance invited National Bank of Oman, Bank Nizwa and Al Omaniya to participate in an acquisition bidding process. The other two institutions have decided not to bid. United Finance offers loans and leasing services as well as corporate deposits.