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Middle East: Oman’s largest non-bank financial institution proposes merger

By  |  February 11, 2015

Oman’s United Finance said on Wednesday that Bank Nizwa had approached it with a proposal for a strategic merger. Bank Nizwa, which started operations in 2013 as one of Oman’s two full-fledged Islamic banks. United Finance describes itself as Oman’s largest non-bank financial institution, and offers loans and leasing services as well as corporate deposits.

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    United Finance’s board will consider the proposal at its next meeting, the company said without giving any details. It noted that any merger would need the approval of the board of directors, shareholders and regulators.

    Full Content: Muscat Daily

     

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    Shell Dismisses BP Takeover Speculation, Rules Out Offer for Six Months Shell Dismisses BP Takeover Speculation, Rules Out Offer for Six Months

    Shell Dismisses BP Takeover Speculation, Rules Out Offer for Six Months

    By  |  June 26, 2025

    Shell has firmly denied any plans to acquire rival oil giant BP, following days of market speculation surrounding a potential £60 billion deal. In a formal statement released Thursday, the company stated it has “no intention” of making an offer, effectively ending any possibility of a formal bid for at least six months.

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      The clarification comes after media reports earlier in the week suggested Shell was exploring preliminary discussions to merge with BP in what would have formed a UK-based energy powerhouse valued at around £200 billion. Per a statement from Shell, the company reaffirmed that no such conversations are taking place, and reiterated earlier denials made the previous day.

      According to the statement, Shell wanted to “set the record straight” amid the mounting speculation and ensure transparency with investors and the market. The declaration triggers a provision under UK takeover rules, preventing Shell from pursuing a formal acquisition approach toward BP for a half-year period unless certain conditions are met.

      Per the same statement, Shell’s decision to address the matter formally reflects the seriousness with which it treats market rumors and its commitment to clear communication. The move aims to provide stability and clarity for shareholders and stakeholders in both companies amid fluctuating energy sector dynamics.

      Source: The Guardian