Oman fund buys 12.6 pct stake in Petrovietnam unit

* username: rupertbu

Oman Investment Fund has acquired a 12.6 percent stake in Petrovietnam Insurance Co PVI.HN, the insurance arm of Vietnam's state oil and gas group, for $42.4 million, a statement said on Thursday.

The deal makes the fund, run by the government of Oman, a strategic investor in the Hanoi-based insurance firm, the joint statement sent to Reuters said.

The deal allows PVI, Vietnam's second-largest non-life insurance firm in terms of direct insurance premiums, and Oman Investment Fund "to co-invest in Vietnam and globally leveraging respective strengths", it said.