Oman: Sohar International eyes stake in Saudi's Neo Group

Sohar Bank gets nod to buy stakes in Neo Group Saudi

Sohar International Bank has received approval from Oman’s central bank to acquire a majority stake in a Saudi-based financial advisory company as part of its regional expansion strategy. The agreement paves the way for the lender to enter a non-binding memorandum of understanding with Neo Group UAE to buy a 55 percent stake in Neo Group’s Saudi venture, the bank said in a bourse disclosure on Tuesday. No financial details were given.  Neo Group…

Oman: Sohar International eyes stake in Saudi's Neo Group

Sohar International will make further announcements as material developments occur in line with applicable regulatory requirements