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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Dubai group sells $57mln Onic stake to Omani fund

Posted on 04 March 2013

An Omani sovereign wealth fund has bought a 41.1 per cent stake in Oman National Investment Corp Holding (ONIC) from a unit of the Dubai ruler’s personal investment firm, the state funds said in a joint statement.
The holding represents 71.3 million shares in ONIC, the statement said. At the last market price of the shares, the stake was worth RO22.1 million ($57.6 million). The stake was sold by Dubai Insurance Group (DIG), which is owned by Dubai Group, part of Sheikh Mohammed bin Rashid al-Maktoum’s Dubai Holding conglomerate………………………………………..Full Article: Source


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