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FINANCIAL NEWS
OIFC acquires big portion of local firm for USD3.2m
01 Jan 2016
(MENAFN) Oman Investment & Finance Co (OIFC) has purchased 60 percent stake in Afaq al Musana Trading LLC, an electrical and drilling contracting company.
OIFC has paid a total of USD3.2 million for the privately-held Omani firm which will be treated as a subsidiary, and OIFC projects a fair profit from this deal.
OIFC is one of the top Investment and Services firms which specialize in billing, collection and debt factoring for electricity, water and telecom services in Oman.
OIFC has been considered as the pioneer and the single largest private sector listed firm dedicated to this line of business in the Sultanate for over 30 years.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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