DUBAI: Oman’s state-owned transport group Asyad is weighing the sale of a strategic stake in its subsidiary Oman Shipping Company (OSC), three sources familiar with the matter said.
Asyad has asked banks to pitch for a mandate to help it review a potential deal in which Asyad could divest up to 40 percent of its ownership, said two sources, who declined to be named as the matter was not public.
Asyad, owned by the Oman Investment Authority, the country’s sovereign fund, did not immediately respond to a request for comment on Monday. Oman Shipping Company also did not respond to a request for comment.
OSC focuses on transportation of liquefied natural gas (LNG) cargoes to the international market, according to information on its website, with a fleet that includes very large crude carriers, product and chemical tankers, and bulk carriers.
The company lists Global energy trader Vitol, Brazilian miner Vale, and Global commodities trader Trafigura, and energy firms BP and Royal Dutch Shell among its customers and partners.
Asyad said in June it plans to restructure its operations in order to focus on logistics, port services, free zones, shipping, drydocks and e-commerce, the state-run Oman News Agency reported, citing a management decision.
Oman is among the weakest countries financially in the oil-rich region and more vulnerable to swings in the price of hydrocarbons, a sector that accounted for about a third of its gross domestic product (GDP) in 2019.
The country has outlined plans in recent years to sell off state assets as it seeks to confront fiscal deficits built up after a drop in oil prices caused its debt to gross domestic product ratio to swell from about 15 percent in 2015 to 80 percent last year.
Omani transport group Asyad said to weigh strategic stake sale in shipping unit
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Omani transport group Asyad said to weigh strategic stake sale in shipping unit
- OSC focuses on transportation of liquefied natural gas (LNG) cargoes to the international market
SAL agrees $30m Aviapartner Liege acquisition to expand into Europe
RIYADH: SAL Saudi Logistics Services Co. has agreed to acquire Belgium-based Aviapartner Liege SA for €28 million ($30.3 million), giving the Saudi logistics firm a foothold at one of Europe’s major air cargo hubs.
Under a sale and purchase agreement signed with Aviapartner Belgium NV and Aviapartner Holding NV, SAL will acquire 100 percent of the company’s share capital on a cash-free, debt-free basis, according to a filing on Saudi Exchange.
The acquisition gives SAL a full operational presence at Liege Airport in Belgium, a key European cargo hub, and is expected to support the company’s long-term growth strategy.
SAL, which provides cargo handling and logistics services across Saudi airports, has been expanding its service portfolio as the Kingdom invests heavily in aviation and supply-chain infrastructure under Vision 2030.
In the Tadawul filing, the company stated: “This acquisition supports SAL’s international expansion strategy by establishing an operational footprint at a key European cargo hub, expanding its cargo ground handling and logistics service offerings at international airports, geographically diversifying its revenue streams, and leveraging operational synergies through access to established infrastructure, airline relationships, and a mature operating environment.”
The deal is strategically significant because Liege Airport has emerged as one of Europe’s most important air cargo hubs and a rapidly expanding gateway for global freight flows.
The Belgian airport is the fifth-largest cargo airport in Europe and has recorded strong growth in recent years, handling more than 1.3 million tonnes of cargo in 2025 as volumes rose about 14 percent year on year.
The transaction will be financed through the company’s available cash resources and remains subject to customary closing conditions and regulatory approvals.
Aviapartner Liege, based in Liege, Belgium, primarily provides ground handling and cargo services.
Financial disclosures show Aviapartner Liege generated revenues of €24.7 million in 2023, rising to €28.6 million in 2024 before declining to €24.3 million in 2025.
SAL said it expects the transaction to have a positive long-term impact on its financial performance following completion and consolidation of the acquired company’s financial results.
The company added that no related parties were involved in the transaction, which was signed on March 4.
