Posted by: amj_admin on August 28, 2023 - 5:46 pm

AMJ is pleased to announce that it has acted for HSBC Bank Oman in its successful merger by incorporation with Sohar International Bank. The merger of the two banks has placed the surviving entity, Sohar International Bank, as one of the largest banks in Oman.

Work on the merger deal commenced in mid-2022 and AMJ supported and advised HSBC Bank Oman in all aspects of the deal mechanics and process. The merger was successfully completed on Thursday, 17th August 2023 whereupon Sohar International Bank acquired all assets, liabilities, rights and obligations of HSBC Bank Oman. This constitutes one of the largest M&A deals to successfully conclude in Oman in the preceding year.

The AMJ team that led this deal comprised Mansoor Jamal Malik (Partner), Zarrar Mir (Associate), Ahmed Al Busaidy (Senior Associate) and Iman Al Maqbali (Associate).

Posted by: amj_admin on June 28, 2018 - 6:58 pm

It is mandatory to notify Oman’s new Competition Protection and Monopoly Prevention Centre of any merger, acquisition or joint venture resulting in the creation of a dominant position for a person or group of persons.

The Centre, set up by royal decree in January 2018, has replaced the consumer protection authority as Oman’s competition regulator and is tasked with issuing regulations to implement Oman’s Competition and Anti-Monopoly Law issued in 2014. In view of the lack of regulation, combined with the Centre’s wide jurisdiction over merger control, the interim it is advisable for any company contemplating a potentially notifiable merger, acquisition or joint venture in Oman to enter into discussions with the Centre at an early stage.

Corporate/capital markets partner, Ardeshir Patel discusses what constitutes a dominant position, asset/turnover/market share based thresholds for merger control filings, effect on foreign-to-foreign transactions, and other key merger control issues in LexisNexis’ latest merger control guide.

read more