Oman – CMA Acquisition, Takeovers

Oman – CMA Acquisition, Takeovers

On 23 May 2019, OMN CMA issued takeover and acquisition regulation.

  • Issued administrative decision issuing the Takeover and Acquisition Regulation
    for public joint stock companies listed on the Muscat Securities Market (MSM).
  • Published in Official Gazette on May 19 pursuant to Art. 7 of Capital Market Law.

Key Points

  • Regulation aims to regulate takeover and acquisition processes at not more than
    25% of shares of pubic joint stock companies and controlling percentage in firm.
  • Transparency and integrity that guarantees the protection of all participants and
    allows the market forces to interact with such offers to determine the fair prices.
  • Stipulates parties it applies to, such as offeror / offeree, processes of acquisition
    and takeover, timing and terms and conditions for takeover or acquisition offers.
  • Ensures equal opportunities for all the shareholders to benefit from the takeover.
  • The draft was offered for consultation by the public and all the public joint stock
    companies, law firms, audit firms and interested persons for their views, opinions.