Treasure Fleet International proposes to acquire a stake in National Bank of Oman

Muscat: National Bank of Oman (NBO) on Thursday said that it had received a letter from Treasure Fleet International Pte Ltd proposing to acquire a stake in the bank.
“The proposal from Treasure Fleet International Pte. Ltd. will be reviewed and discussed by the board of directors. Further disclosure concerning this matter will be made if there are developments to report,” said a bank disclosure statement posted on MSM website.
NBO also said that no legally binding commitments have been made and this matter is still subject to review and approval by NBO’s board of directors, the shareholders of NBO and the local regulatory authorities.
Treasure Fleet International is a Singapore-based firm, according to its website, which is under development.