Falcon Insurance, merger cancelled

Muscat Al Anwar Holding has recently announced that the plan to merge its subsidiary Falcon Insurance Company with an anonymous insurer was abandoned as talks between the two parties have irreversibly failed.

In March 2013, the two partners signed an agreement to begin negotiations and explore merger prospects. This agreement, valid six months, was extended until December. Parties, whose rapprochement efforts were due to continue throughout 2014, already decided to bring their talks to an end.