Oasis buys into Addax

24 October 2007
Oasis International Leasing is planning to buy a 41 per cent stake in Addax Investment Bank.
The Abu Dhabi-based company has come to a preliminary agreement with the Bahraini bank's board of directors to purchase the stake, which will make it the largest shareholder.
Oasis is restructuring and will relaunch as Oasis Capital with four subsidiaries, covering leasing, real estate, maritime and financial services sectors.
The company, which is listed on the Abu Dhabi Securities Market, reported profits of AED 91 million ($24.8 million) in the first nine months of the year, up 86 per cent on the same period the previous year. It holds AED 4,142 million ($1,128 million) in assets.

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