Takeover talks for United Finance break down

25/08/2015 08:17 AST

Talks for a possible takeover of Oman's United Finance by Al Omaniya Financial Services have broken down and will not progress any further, the two sides said on Monday.

The board of United Finance met on Sunday to discuss the proposal but decided that Al Omaniya had not made "an acceptable financially binding offer", according to a United Finance bourse filing which did not elaborate further.

In a separate bourse filing, Al Omaniya said it had submitted a non-binding bid which was subject to due diligence. United Finance then "insisted on a commercially binding offer before the due diligence", a condition which Al Omaniya did not want to accept and so talks ended.

United Finance has a market capitalisation of $113.8 million, according to Reuters data, while Al Omaniya's market value is $197.8 million.

Al Omaniya's was the final offer left on the table after an initial three-way battle among financial institutions in the sultanate for United Finance, which offers loans and leasing services as well as corporate deposits.

In May, United Finance invited National Bank of Oman, Bank Nizwa and Al Omaniya to participate in a bidding process. The other two institutions later decided not to bid, leaving Al Omaniya as the only potential purchaser.

Shares in both United Finance and Al Omaniya didn't trade on Monday as the main Muscat bourse was again buffeted by global market turbulence, closing 3 percent down.


Trade Arabia

News

United Finance's RO15mn bond issuance oversubscribed

13/06/2025

United Finance Company on Wednesday announced the successful completion of its privately placed, senior unsecured bond issuance, which was oversubscribed by 71%. Strong investor demand enabled the co

Muscat Daily

United Finance plans to reduce paid-up capital

31/01/2018

The board of United Finance Company has proposed to reduce the company's paid up capital from OMR34.91 million to OMR25 million. This will be done by returning the par value of the shares (100 baisa

Times of Oman

Oman's United Finance weighs takeover offer from Al Omaniya

01/07/2015

Al Omaniya said separately that it had submitted an indicative bid to buy 100 per cent of the shares in United Finance.

Oman's United Finance said on Tuesday its board was considering a no

Gulf News

Most Viewed Companies

Ticker Price Volume

Valuation

UFCI Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
BKSB 0.20 0.00 (0.00%)
BKMB 0.42 0.02 (5.00%)
NBOB 0.50 0.00 (0.00%)
ABOB 0.20 0.00 (0.00%)
BKDB 0.20 0.00 (0.00%)

Recent News

Sustainable Fitch confirms QIIB's strong commitment to sustainability standards with QR2.85bn in eligible finance

15/06/2026

Qatar International Islamic Bank (QIIB) has announced that global sustainability ratings agency Sustainable Fitch has issued its post-issuance review relating to the allocation disclosure for the pro

Gulf Times

QAMCO announces end of marketing and offtake arrangements of Qatalum's production

15/06/2026

Qatar Aluminium Manufacturing Company (QAMCO), which owns a 50% stake in Qatar Aluminium Company (Qatalum), announced that the marketing and offtake arrangements with Hydro Aluminium AS, acting as Qa

Gulf Times

Kuwait Airways launches first commercial flights to Greece's Mykonos

15/06/2026

Kuwait Airways on Sunday launched its first commercial flights to the Greek island of Mykonos, operating twice-weekly services on Sundays and Thursdays as part of its 2026 summer schedule.

A

Gulfnews

OMIFCO sets price range for RO260mn IPO

15/06/2026

Oman India Fertiliser Company (OMIFCO), the integrated ammonia and urea producer jointly owned by Omani and Indian shareholders, is seeking to raise RO260.88mn (approximately US$678mn) through an ini

Muscat Daily

NBK sponsors 2nd Kuwait Forum of Major State Development Projects -- ENCON 5

15/06/2026

National Bank of Kuwait (NBK) is sponsoring the Second Kuwait Forum of Major State Development Projects (ENCON 5), organized by the Kuwaiti Federation of Engineering Offices and Consultant Houses in

Kuwait Times

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap