Abu Dhabi's IPIC could raise stake in Austria's OMV

International Petroleum Investment Company eyes increase in 20% stake in oil and gas group
Abu Dhabi's IPIC could raise stake in Austria's OMV
International Petroleum Investment Company (IPIC) said it could raise its stake in Austrian oil and gas group OMV this year. (Getty Images)
By Reuters
Wed 13 Apr 2011 10:20 PM

Abu Dhabi's International

Petroleum Investment Company (IPIC) said on Wednesday it could

raise its stake in Austrian oil and gas group OMV this

year.

IPIC now owns a 20 percent in the Vienna-based group.

"Yes, that it possible. It is a good company and we have a

good relationship with them," IPIC managing director Khadem al

Qubaisi told Reuters when asked if it could raise the stake.

"It could be this year," he said on the sidelines of a

conference. He also said IPIC was reviewing buying the remaining

stake in plastics maker Borealis from OMV.

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