Oman said to follow Abu Dhabi with sovereign fund merger plans

Photo: REUTERS/Beawiharta

Oman, the largest Arab oil producer outside the Organization of Petroleum Exporting Countries, is considering a merger of its two main sovereign wealth funds amid a slump in oil prices, people familiar with the matter said.

The Gulf state is seeking to combine State General Reserve Fund with smaller peer Oman Investment Fund to create an entity with about $25 billion in assets, the people said, asking not to be identified as the information is private. The discussions are preliminary and no financial advisers are currently involved, the people said. Final agreements haven’t been reached and talks may still falter, they said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter