NBO weighing offer for stake acquisition

By Business Reporter — MUSCAT: Dec 31:  National Bank of Oman (NBO), the Sultanate’s second largest lender, has revealed that it has received a proposal from Singapore based Treasure Fleet International Pte Ltd about the possibility of acquiring a stake in the bank. “The proposal from Treasure Fleet International Pte Ltd will be reviewed and discussed by the Board of Directors,” NBO said in a filing to the Capital Market Authority (CMA) on Thursday. “Further disclosure concerning this matter will be made if there are developments to report. NBO wishes to confirm that no legally binding commitments have been made and this matter is still subject to review and approval by NBO’s Board of Directors, the Shareholders of NBO and the local Regulatory Authorities,” it further stated.