Muscat: Oman Investment and Finance Company SAOG (OIFC), received a letter today from Dhofar International and Investment Holding Company SAOG (DIDIC) expressing its desire to merge with OIFC by the way of incorporation.

In statement released by Mr. Said Ahmed Safrar, CEO of OIFC, the Board of Directors of the company will review the offer and obtain the necessary information in connection with the proposed merger.

If the parties agree to proceed with the merger, it will be subject to various conditions, including without limitation, approval of the relevant regulatory authorities and shareholders of the companies.

In another statement released by Mr. Ramez El Almoudi, CEO, DIDIC, the Board of Directors held a meeting on 11th February, 2023 to send a letter of intent to their counterparts in OIFC regrading the possibility of a merger between the two entities.

Further announcements will be made on any developments in due course.