KUWAIT CITY: Oman Telecommunications Co. (Omantel) has won the bid to acquire 425.7 million treasury shares representing 9.84 percent of Zain’s fully paid in and issued share capital at an offer price of 0.60 Kuwaiti dinars ($1.99) per share, representing a total cash consideration of $846.1 million.
Zain and Omantel entered into a stock purchase agreement (SPA) on Aug. 10. This announcement triggered a formal block trade auction process under Boursa Kuwait rules.
A ceremony was held to mark the completion of the transaction. Officials of Zain, Omantel and Boursa Kuwait attended the function during which Boursa Kuwait’s efforts were lauded.
Bader Al-Kharafi, Zain vice chairman and group CEO, said: “We appreciate the professionalism and efforts of Boursa Kuwait and Omantel in this transaction, reflecting the confidence and strength of both the Kuwait equity market and in Zain’s business and digital growth strategy.”
Al-Kharafi added: “We welcome Omantel’s investment in Zain, and we look forward to exploring mutually beneficial synergies and opportunities across the region. The strategic visions of both Zain and Omantel complement each other.”
“The liquidity from this transaction brings many immediate and significant benefits to Zain as it enhances our financial flexibility as we continue to seek opportunities in the digital space and invest in upgrading our modern networks to enhance the mobile experience for our customers. Additionally, the deal allows us to reduce our debt levels as well as increasing our shareholders’ equity,” he said.
Talal Said Marhoon Al-Mamari, CEO, Omantel, said: “The global telecoms market is changing fast, and our region has not escaped this trend. Data and content are where growth lies and investing in innovative digital products are critical to building a stronger company.
“In this competitive environment, our acquisition of a minority stake in Zain Group is a strategic move for Omantel as we continue to deliver against our Corporate Strategy 3.0, create value for shareholders, diversify our revenue, raise our regional profile, and mitigate the risk of operating in a single market.”
Khaled Al-Khaled, CEO of Boursa Kuwait, said: “We congratulate the parties involved in this major investment that was completed on Boursa Kuwait in such a short period. Boursa Kuwait’s expertise in managing the auction was key to ensure a smooth, transparent and swift process. Today, this deal stands as an important indicator of the growing trust and confidence investors have in the Kuwait market. Boursa Kuwait will continue to develop the operations of this exchange in line with its three main pillars of efficiency, transparency and accessibility.”
The sale of Zain’s treasury shares was approved by its shareholders and the Capital Markets Authority (CMA) of Kuwait earlier this year.
The sale will now be executed and the treasury shares converted into common stock. Following this conversion, Omantel will hold 9.84 percent of Zain Group, with the corresponding voting rights and dividends attached to the common stock.
The transaction will be fully debt financed by Omantel. Citigroup Global Markets Limited served as the exclusive financial adviser and Meysan Partners as legal adviser to Zain. Credit Suisse acted as the exclusive financial adviser and Freshfields Bruckhaus Deringer LLP as legal adviser to Omantel.
Omantel acquires nearly 10% Zain stake for $846m
Omantel acquires nearly 10% Zain stake for $846m
Preventive care: rethinking everyday health in Saudi Arabia
In Saudi Arabia, a quiet revolution is reshaping the way people think about health. It is not happening in operating rooms or emergency wards — it is unfolding in homes, schools, and communities. It is imperative we ask ourselves: what if health began long before the doctor’s visit? What if the most powerful interventions were the ones we made every day — at home, at school and in our communities?
This philosophy is at the heart of Haleon’s work in Saudi Arabia, where the consumer healthcare company is helping redefine what it means to be healthy. It is not just about curing illness; it is about preventing it. It is not just about access; it is about empowerment. And it is not just about innovation; it is about inclusion.
Prevention as a national imperative
Saudi Arabia’s Vision 2030 and its Health Sector Transformation Program have placed preventive care at the center of the national strategy. This is not just policy — it is a paradigm shift. From chronic disease management to oral hygiene education, the Kingdom is investing in initiatives that help people stay healthy, not just get treated.
This shift is especially critical in a region where lifestyle-related conditions like diabetes, heart disease, and obesity are on the rise. By promoting healthier habits and early intervention, Saudi Arabia is not only improving individual outcomes, it is reducing long-term strain on hospitals and clinics.
From awareness to action
Health literacy remains one of the most overlooked barriers to better outcomes in the pursuit toward preventive health, with low health literacy associated with 2.8 times higher health costs per person. By focusing on everyday habits, Haleon is shifting the narrative from reactive care to proactive wellness.
Darśana Nair, general manager of Haleon Saudi Arabia, said: “When people understand their health, they’re empowered to protect it.”
This belief drives Haleon’s broader investment in wellness, including its Pain Management Institute, a resource hub for both professionals and patients navigating chronic pain. With 70 percent of its Saudi business dedicated to over-the-counter products, Haleon is championing accessible, preventive care that meets people where they are.
Inclusivity as a strategy
Haleon’s commitment to health equity is evident in its outreach; the company ensures that no community is left behind. Arabic-language materials and culturally tailored programs make health information more relevant and actionable, breaking down barriers and building trust.
Global roots, local impact
Headquartered in Jeddah, Haleon has built a workforce that is nearly 50 percent Saudi nationals and invested in local manufacturing, including the production of Panadol in the Kingdom. This localization strategy strengthens supply chains, supports job creation, and aligns with Saudi Arabia’s broader goals for industrial growth and economic resilience.
“Our collaboration with the Ministry of Investment to localize Panadol manufacturing is just one example of how we support job creation, industrial growth, and supply chain resilience,” said Nair. “By promoting prevention and self-care, we also help reduce the long-term burden on hospitals and make the healthcare system more sustainable for everyone.”
A new era of everyday health
Haleon’s work in Saudi Arabia is more than corporate strategy — it is a vision for the future. “We believe that better everyday health is possible for everyone,” Nair said. “Working alongside our partners and communities, we are proud to support Saudi Arabia’s vision for the future.”
- The writer, Darsana Nair, is general manager at Haleon.
