Sohar International’s Potential Stake in Saudi’s Neo Group: What It Means for Investors and Business Growth Opportunities
Sohar International Bank SAOG has received the Central Bank of Oman’s (CBO) in-principal approval to proceed with the proposed acquisition of a majority stake in Neo Group Limited, Kingdom of Saudi Arabia (KSA).
In an official statement dated December 2, 2025, Sohar International confirmed the receipt of CBO’s in-principal approval, which allows the bank to move forward with the intended acquisition. This progression remains subject to the completion of due diligence and the finalization of regulatory approvals in both Oman and Saudi Arabia.
Sohar International Bank will continue to provide updates on significant developments in compliance with relevant regulatory requirements.
Earlier, on August 12, 2025, Sohar International disclosed to the Muscat Securities Market (MSX) its intent to seek in-principal approval from the CBO. The bank planned to enter into a non-binding Memorandum of Understanding (MoU) with Neo Group Limited UAE, the current holder of an 80% equity stake in Neo Group Limited KSA. The MoU aimed to explore the possibility of Sohar International acquiring up to a 55% majority stake in Neo Group Limited from the seller.
Special Analysis by Omanet | Navigate Oman’s Market
Sohar International Bank’s conditional approval to acquire a majority stake in Neo Group KSA signifies a strategic regional expansion, offering Omani businesses a foothold in the dynamic Saudi market. This move creates opportunities for cross-border growth and collaboration but also introduces regulatory and integration risks that must be carefully managed. Smart investors should monitor this deal closely as it highlights the growing trend of Gulf financial institutions leveraging regional synergies to diversify and strengthen their market presence.
