Abu Dhabi’s IPIC raises stake in Austria’s OMV to 24.9%

04 October 2011 03:03  [Source: ICIS news]

LONDON (ICIS)--Abu Dhabi’s International Petroleum Investment Co (IPIC) has raised its stake in Austria’s energy and petrochemicals major OMV by 4.5 percentage points to 24.9%, OMV said late on Monday.

In a regulatory filing, OMV said IPIC now holds almost 81.5m OMV shares. It did not disclose further financial details.

OMV’s shares closed down 2.9% at €21.87/share ($28.78/share) on the Vienna Stock Exchange on Monday.

IPIC’s portfolio companies include, among others, Canada’s NOVA Chemicals and Spain’s energy and petrochemicals firm CEPSA, as well as a stake in Austria-based petrochemicals and plastics firm Borealis, which is partly-owned by OMV.

IPIC was formed in 1984 by the Abu Dhabi government.

($1 = €0.75)

For more on OMV, NOVA Chemicals and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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