Dhofar Foods & Investment Company SAOG has announced that it has won approval of its previously submitted offer by Dhofar International Development and Investment Holding SAOG and Dhofar Insurance SAOG.
As per the agreed terms, Dhofar International Development & Investment Holding SAOG will sell its stake in Omani Gulf Food Company LLC to Dhofar Foods & Investment Company SAOG, valuing the transaction at a total of RO 4,153,846. Similarly, Dhofar Insurance SAOG will sell its stake in Omani Gulf Food Company LLC to Dhofar Foods & Investment Company SAOG, with the transaction amounting to RO 5,192,308. The per-share cost for both deals has been set at 80 baizas.
In return for selling their stakes, Dhofar International Development & Investment Holding SAOG and Dhofar Insurance SAOG will acquire equity stakes in Dhofar Foods & Investment Company SAOG through a private placement.
The completion of this transaction is contingent upon obtaining the necessary regulatory approvals and meeting all applicable requirements.
Dhofar Foods & Investment Company SAOG is a prominent Oman-based food and beverage company, specializing in the production of canned food, juices, and dairy products. Dhofar International Development & Investment Holding SAOG is a diversified investment company with interests spanning various sectors, including real estate, tourism, and manufacturing. Dhofar Insurance SAOG is a leading insurance company in Oman, offering a comprehensive range of insurance products, including life insurance, property insurance, and motor insurance.
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