Muscat: The Financial Corporation Company (Fincorp) was the financial advisor to the strategic investment of Al Anwar Holdings (Al Anwar) into the education sector, which was successfully executed in the third market at Muscat Security Market (MSM). The value of this transaction was OMR4.35 million.
Al Anwar Holdings acquired 43.51 per cent stake in the Canadian Innovation Company for Education Services, which owns and operates Al Ruwad International School (AIS), Muscat, said a press release.
“Al Anwar acquired Al Ruwad International School as a part of its diversification plan into the education sector which is very much in line with the socio-economic growth of the economy. We had the pleasure of working with Fincorp on the transaction. Fincorp helped in the successful closure of this deal, and we are looking forward to working with them on other projects," said Brig. (Rtd) Masoud Humaid Al Harthy, chairman of Al Anwar Holdings.
“Fincorp is proud to be associated with Al Anwar Holdings and work on this transaction thus helping the overall education sector in Oman. Fincorp Corporate finance is working on a number of assignments in healthcare, education, hospitality and real estate sectors. Fincorp Corporate Finance and Advisory division actively undertakes IPOs, fund-raising and placements; mergers and acquisition advisory, valuation and due-diligence, corporate restructuring, project evaluation. Our innovative financial solutions contributed to finalising many successful transactions for a variety of companies and establishments operating in different economic sectors," noted Nasr Al Hosni, chief executive officer of Fincorp.
Established in 2012, Al Ruwad International School is a reputed international school with around 800 students. Within 4 years it has been able to establish itself as one of the reputed international school in Muscat. The school is also planning for expansion.