Alizz Islamic Bank in its filing to Muscat Securities Market (MSM) said it has expressed interest in the possibility of strategic merger with United Finance Company subject to conducting due diligence. No legally binding commitment has been made and the transaction remains subject to approval by the regulators and other stakeholders.
United Finance Company in its filing to MSM said the company has received a communication from Alizz Islamic Bank on June 5, 2017 proposing the possibility of a merger.
The proposal from Alizz Islamic Bank has been forwarded to the Board of Directors of United Finance Company for their information and directions. Further disclosure concerning this matter will be made as and when there are developments to report.