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FINANCIAL NEWS
Omani Al Jazeera to buy Al Anwar Ceramics for USD106m
22 Sep 2015
(MENAFN) Oman based Al Jazeera Services has agreed to the proposal from Oman Investment Fund to take the entire stake in Al Anwar Ceramic Tiles, based on reports.
The stake which will be purchased by Oman Investment Fund amounts to USD106.1 million, which will only be seen through as the firm completed legal requirements.
Al Anwar Ceramics was performing good recently as the firm’s turnover grew by 3.7 percent from that of USD36.7 million posted in 2014’s first half to USD38 million in this year.
“We are satisfied with our sales performance in Oman, where we continue to grow and hold a dominant position, gaining a strong foothold in that market,” said Al Anwar Ceramics’ chairman.
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