Abu Dhabi nudges up OMV stake to 20%

International Petroleum Investment Co raises stake in Vienna-based oil and gas group.
Abu Dhabi nudges up OMV stake to 20%
By Neeraj Gangal
Fri 08 Jan 2010 09:40 AM

Abu Dhabi government-owned International Petroleum Investment Company (IPIC) has raised its stake in Austria's OMV to 20 percent, the Vienna-based oil and gas group said on Thursday.

IPIC has raised its stake to 20 percent from 19.6 percent previously, OMV said in a statement.

Shares in the company continued to trade around 2 percent higher at 32.16 euros on Thursday.

IPIC and Austria's state holding company OeIAG, OMV's other big shareholder, now hold 51.7 percent of voting rights combined, the statement added. (Reuters)

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