News of the global slump in mergers in acquisitions hasn’t reached the farthest corner of the Arabian Peninsula, where a string of potential $1 billion-plus energy deals is helping Oman defy the gloom.
The value of announced or proposed transactions involving an Omani target has risen 145% in the last 12 months, according to data compiled by Bloomberg. That compares with a 6% fall globally, owing to the impact of the coronavirus crisis.
And that doesn’t even include potential sales by BP Plc and Occidental Petroleum Corp. The western oil producers are both exploring divestments of more than $1 billion in Oman, Bloomberg News has reported.
If these and further planned privatizations by the state are completed, it would make 2020 the best-ever year for deals involving targets in the oil-rich sultanate, the data shows.
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