Salaam Al Shaksy to oversee OAB-Alizz integration
Salaam Al Shaksy, former CEO of Alizz Islamic Bank, has been named Chief Integration Officer of Oman Arab Bank.
Mergers and Acquisitions
AMMROC to become wholly owned by EDGE Group
EDGE Group acquires the remaining 40 per cent stake currently held by Lockheed Martin Corporation and Sikorsky in AMMROC.
ADPower transfers its power assets to Taqa
ADPower transfers the majority of its power and water generation, transmission and distribution assets to Taqa in exchange for 106,367,950,000 new shares.
Oman Arab Bank, Alizz Islamic Bank finalize merger terms
Oman Arab Bank (OAB) and Alizz Islamic Bank (AIB) signed an agreement for the overall structure of the potential merger between the two banks.
ACWA Power ups stakes in Hajr Electricity Production Co
ACWA Power ups stakes in Hajr Electricity Production Company from 17.5% to 22.49% following the partial acquisition of Samsung C&T’s equity.
Dubai’s Sheikh Mohammed merges his holding companies
Dubai’s Sheikh Mohammed merges his holding companies, Meraas Holding and Dubai Holding, to sustain and advance growth through an integrated platform.
Gulf Capital sells Metamed to Ray Lab and a consortium of global investors
Gulf Capital announced today that it has successfully completed the sale of Metamed, the region’s largest diagnostic imaging network, to Ray Lab and others.
SAMI acquires Advanced Electronics Company
Saudi Arabian Military Industries (SAMI) announced the signing of a Term Sheet Agreement to acquire 100 percent ownership in Advanced Electronics Company (AEC).
SABB and Alawwal Bank merger takes effect
SABB and Alawwal Bank today created Saudi banking history by legally combining their businesses following regulatory and shareholder approvals.