Ubhar Capital Saoc made an offer to acquire Gulf Baader Capital Markets S.A.O.C. from Gulf Investment Services Holding Company SAOG (MSM:GISI) and other two shareholders on February 27, 2020. Ubhar Capital Saoc signed a sale and purchase agreement to acquire from Gulf Investment Services Holding Company SAOG for OMR 2.3 million on March 19, 2020. The consideration includes a premium of OMR 0.23 million. The deal value will be adjusted with the net results of Gulf Baader Capital Markets for the month of March 2020. Gulf Investment Services holds 99.99% stake in Gulf Baader. The transaction is subject to all necessary regulatory approvals. The deal was approved by the board of Gulf Investment Services Holding Company SAOG. The transaction has been approved by shareholders of Gulf Investment. The transaction is expected to close within 45 days from day of signing the agreement.