Sohar International Bank merges with HSBC Bank Oman
Global law firm Freshfields Bruckhaus Deringer (“Freshfields”) has advised Sohar International Bank (Sohar International) on its merger with HSBC Bank Oman (HSBC Oman), whereby all assets and liabilities of HSBC Oman will be transferred to Sohar International.
The merger, which is still awaiting the relevant regulatory approval as well as approval from the shareholders of the two entities, is expected to complete in the second half of 2023.
The banks, who did not disclose the deal value, said that upon merger completion, HSBC Oman will be dissolved and no longer be a legal entity.
The Freshfields’ team was led by Dubai-based corporate/m&a partner Pervez Akhtar (pictured), with significant support from counsel Abdallah Maher and associates Al-Waleed Al-Kiyum and Khaled Al Assaf.