HSBC enters binding merger agreement with Sohar International Bank 

Mark Battersby
clock • 1 min read

HSBC Bank Oman and local lender Sohar International Bank have entered into a binding merger agreement, both parties said in separate statements today (16 November).  All assets and liabilities of HSBC Oman will be transferred to Sohar International, the banks said in two separate regulatory announcements, without disclosing the deal value. On completion of a merger, HSBC Oman will cease to exist as a legal entity and its shares will be cancelled, the banks said. Shohar International said in its statement: "The timing of the extraordinary general meetings of each of HBSC Oman and So...

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