Oman Investment & Finance Company SAOG (MSM:OIFC) agreed to acquire Gulf Investment Services Holding Company SAOG (MSM:GISI) on December 12, 2020. The transaction is subject to approval of regulators, Oman Investment & Finance Company SAOG shareholders in a meeting scheduled on December 29, 2020. On December 12, 2020, the transaction was approved by the Board of Directors of Oman Investment & Finance Company SAOG.

The Board of Directors of Oman Investment & Finance Company SAOG recommended the shareholders to approve the transaction. As of December 13, 2020, Board of Directors of Gulf Investment Services recommended shareholders to approve the transaction. The shareholders of Oman Investment & Finance Company SAOG approved the transaction on December 30, 2020.

On February 17, 2021, Capital Market Authority of Muscat has approved the transaction along with Ministry of Commerce, Industry and Investment Promotion.