Takamul to take GFIH's stake in Muscat Gases

21/04/2012 08:02 AST

Global Financial Investment Holding (GFIH) has announced that its Board has accepted a proposal from Takamul Investment, a majority Omani government-owned start-up company, for the purchase of its 19.62 per cent stake in Muscat Gases SAOG.

The company stated in a disclosure notification to the Capital Market Authority that the deal would result in a profit of RO 3.799 million at a price of RO 0.820 per share. Owned 90 per cent by Oman Oil Company, which in turn is wholly owned by the Omani government, Takamul was set up in 2006 with a mandate to promote and invest in greenfield value-added projects in three key areas: downstream petrochemicals, metals and minerals.


Oman Daily Observer

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