07 October 2008 20:09 [Source: ICIS news]
TORONTO (ICIS news)--?xml:namespace>
Financial terms were not disclosed.
The seller is German truck builder MAN Group, which will retain a 30% stake in Ferrostaal.
The transaction comes as IPIC, which is pursuing long-term investments petrochemicals, energy, renewables and related industries, planned to award contracts for large projects to MAN Ferrostaal, they said.
IPIC holds stakes in a number of chemical and energy firms, including Borealis, OMV, CEPSA and Oman Polypropylene.
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