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The Government of the Sultanate of Oman (GSO hereafter) is considering the partial privatization of the electricity transmission, and distribution & supply companies in Oman. The GSO has instructed Nama Holding, the State-owned electricity holding company, to proceed with the sale of:
Up to 49% of its shares in the national electricity transmission company, Oman Electricity Transmission Company (OETC); and
Up to 70% of its shares in each of the main four electricity distribution & supply companies, respectively benefitting from a regional monopoly: Muscat Electricity Distribution Company (MEDC), Majan Electricity Distribution Company (MJEC), Mazoon Electricity Distribution Company (MZEC), and Dhofar Power Company (DPC).
At this stage the Expression of Interest is being invited only for MEDC and OETC.
The two companies currently considered for privatization and the other three distribution and supply companies listed above currently operate as fully-owned subsidiaries of Nama Holding.
The privatization transaction processes of OETC and MEDC will be conducted independently from each other.
Nama Holding has launched the partial privatization transactions of OETC and MEDC on October 8, 2018.
Nama Holding now intends to invite eligible entities, either individually or in consortia, to express interest to participate in the partial divestment of OETC and MEDC, as stated above. The Expression of Interests must be received by Nama Holding no later than 3 December 2018 by 01:00 pm local time (UTC+4)
Further information related to participation in the partial privatisation and in expressing interest is available on Nama Holding’s website (www.nama.om).
This announcement is not directed at any person in the United States or in any other jurisdiction where such distribution is restricted by law. This announcement is neither an agreement nor an offer or invitation, or solicitation for an offer, for securities for sale in any jurisdiction. Any investment or investment activity to which this announcement relates is available only to persons who are lawfully entitled to engage in such investment or investment. This announcement must not be acted or relied on by persons who are not permitted to engage in matters to which the announcement relates.
