FINANCIAL NEWS

Oman- OIF buys 41.13% stake in ONIC Holding

04 Mar 2013

(MENAFN) Oman Investment Fund (OIF) stated that it has acquired a 41.13-percent stake in Oman National Investment Corporation Holding SAOG (ONIC Holding), reported Gulf News.

OIF, which is a sovereign wealth fund, added that it has purchased the stake, which is equal to 71,323,988 shares, from Dubai Insurance Group (DIG).

ONIC, which is listed on the Muscat Securities Market, is a diversified financial services holding firm in Oman and its operations cover life and general Insurance.

It is worth noting that DIG is an affiliate of Dubai Group, a diversified financial services firm that has been selling down assets to support its current restructuring process.

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