A consortium of investors led by Oman International Development and Investment Company SAOG (MSM:OMVS) and Arab Bank PLC intends to make an offer to acquire Ahli Bank SAOG (MSM:ABOB) from Ahli United Bank B.S.C. (BAX:AUB), Al-Hosn Investment Company and other shareholders for approximately OMR 360 million on May 15, 2023. Under the terms, consortium will pay a base price of 185 baisa. In addition, strategic long term investors who accept the offer will receive base price plus 15 baisa, significant financial investors will receive base price plus 7 baisa and other investors will receive base price per share. The consortium does not anticipate incorporating any condition around the percentage of acceptance by the shareholders. The offer shall be funded by the consortium from their own funding sources. Post completion, Arab Bank will be merged with Oman Arab Bank SAOG, where the consortium already have a substantial stake. The merged entity subject to regulatory and other approvals, will create a large and robust financial institution in the Sultanate e Oman. The transaction is subject to approvals of the relevant boards, shareholders, regulators and any other applicable requirements. Trowers & Hamlins acted as legal advisor to Oman International Development and Investment Company.

A consortium of investors led by Oman International Development and Investment Company SAOG (MSM:OMVS) and Arab Bank PLC cancelled the acquisition of Ahli Bank SAOG (MSM:ABOB) from Ahli United Bank B.S.C. (BAX:AUB), Al-Hosn Investment Company and other shareholders on July 25, 2023. Oman International Development and Investment Company and Arab Bank PLC cancelled the acquisition due to the recent development at the Ahli bank to increase it's share capital through it's rights issue and The Central Bank of Oman was not in a position to grant exceptions to the consortium for the offer under Article (57) of the banking law 114/2000 and the provisions of banking regulation no. 40/96.