[ad_1]
MUSCAT: Omantel, on Wednesday, April 13, introduced that it has collaborated with Oman Funding Authority (OIA) to ascertain a Actual Property Funding Fund known as ‘Pearl REIF’, a particular goal REIF firm accredited by the Capital Market Authority.
Pearl REIF’s share capital quantities to OMR 42,477,021. Omantel’s contribution to the Pearl REF is in-kind and to this impact that has entered right into a definitive settlement with Pearl REIF for a sale and lease again of its headquarter constructing positioned in Madinat Al Irfan.
In consideration of in-kind contribution, Omantel will obtain 279,086,867 models price 100 Baisa every within the Pearl REIF and an quantity of OMR 27,091,313 in money for the overall worth of its in-kind contribution.
This transaction is a part of Omantel’s asset lite technique that’s anticipated to assist the deleveraging of its current money owed.
[ad_2]
Source link
