Mubasher: The Omani Ministry of Commerce and Industry (MOCI) has approved the merger between Oman International Development and Investment Company (Omnivest) and Oman National Investment Corporation Holding (ONIC) on 19 August.
Following the approval, ONIC has been de-registered from MOCI’s Commercial Registry records, and its shares will be suspended from trading on the Muscat Securities Market (MSM), ONIC said in a bourse filing.
“ONIC’s shareholders, as of close of trading on 19 August, will be issued shares in OMINVEST as per the agreed ratio in due course,” the company stated.
The merger deal began through a memorandum of understanding (MoU) between the two companies at the end of December 2014.
