Times of Oman
Oman Brunei Investment Company finalises deal with German firm
September 27, 2017 | 11:13 AM
by Times News Service
The five aircraft, which are now jointly owned by OBIC and GOAL, are on a long term leasing contract with the Sultanate’s national carrier Oman Air. - Supplied picture
 
Sharelines

Muscat: Oman Brunei Investment Company (OBIC) has successfully closed a deal with German Operating Aircraft Leasing GmbH & Co. KG (GOAL), one of Germany’s top investment companies and a renowned player in the field of structured asset finance.

Adding to its fleet of more than 60 aircraft, the latter purchased a stake in OBIC’s five Boeing 737-900ER aircraft with the aim of placing them in a fund for German institutional investors, said a company release

The five aircraft, which are now jointly owned by OBIC and GOAL, are on a long term leasing contract with the Sultanate’s national carrier Oman Air.

As a well-established expert in managing aircraft assets, the German aircraft leasing firm will act as asset manager as well as remarketing agent for the aircraft.



“After months of negotiation, we are very pleased to be executing this deal with GOAL. This not only showcases the fund’s ability to diversify and create new sources of long-term income for its shareholders, but more importantly it emphasises OBIC’s ability to secure foreign direct investment and promote Oman on the international investment scene,” said Qais Abdullah Al Kharusi, chief executive officer of OBIC.

Oman Brunei Investment Company was established in 2009 as a 50:50 joint venture between the governments of Oman and Brunei. The private equity fund invests in high growth sectors in the region by acquiring existing companies or initiating new projects.

STAY UPDATED
Subscribe to our newsletter and be the first to know all the latest news