oman economy oti to acquire 40 of hass group stake
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Oman economy: OTI to acquire 40% of Hass group stake

Arab Today, arab today

Arab Today, arab today Oman economy: OTI to acquire 40% of Hass group stake

Oman Trading International (OTI) and Hass Petroleum Group (Hass) announced an agreement whereby
Muscat - Arab today

 Oman Trading International (OTI) and Hass Petroleum Group (Hass) announced an agreement whereby OTI will acquire 40 per cent of Hass stake, a leading oil marketing company with significant presence across the African markets.

OTI will provide its supply and trading capabilities to strengthen the Hass service offering, enhance services to consumers and contribute to economic growth across the region. 

In turn, Hass will enhance OTI’s market access to the African markets. The Hass founder and management team will continue to operate the business and work closely with OTI to grow and maintain long-standing relationships with customers, suppliers and regulators.

This acquisition is in line with the respective companies’ long term strategies.

OTI’s strategic priority of accelerating its growth by entering emerging markets with strong growth potential, which ties closely to Hass’s aspiration of being Africa’s leading oil marketing company. As a regular supplier of refined products to the Southern and East African region, this transaction will enable OTI and Hass to strengthen their businesses across and beyond an already substantial African footprint.

The completion of the transaction remains subject to, inter alia, approval by the relevant authorities.

Talal bin Hamid al-Oufi, CEO of OTI, commented “We are delighted to move onto the next phase of growth for OTI, agreeing our first major investment into Africa with Hass. Hass is a unique business

with substantial scale and growth potential where we enjoy a long-standing relationship and most importantly share a common understanding and vision of the African energy market”.

Abdul Nasser bin Ali Hassan, Chairman and Founder of Hass,commented “I am delighted to agree this transaction with OTI. I amconvinced that this transaction is a major step in ensuring Hass’s continued competitiveness across the region and I am confident that with OTI, we can achieve our mutual long-term growth aspirations”.

Source: Timesofoman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oman economy oti to acquire 40 of hass group stake oman economy oti to acquire 40 of hass group stake

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oman economy oti to acquire 40 of hass group stake oman economy oti to acquire 40 of hass group stake

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:16 2017 Monday ,25 December

Sharjah Ruler issues Emiri Decree on SGMB functions

GMT 13:16 2017 Sunday ,15 October

Qatari sheikh says assets frozen over Gulf crisis

GMT 12:50 2017 Saturday ,11 November

ICC prosecutor calls for Afghanistan war crimes probe

GMT 13:28 2012 Friday ,17 February

NYT\'s Anthony Shadid dies in Syria

GMT 16:44 2017 Friday ,01 September

Al-Bashir to partake in OIC Summit in Kazakhstan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday