Plastics maker Borealis is owned 64 percent by IPIC and 36 percent by Austria's OMV
Abu Dhabi's International Petroleum Investment Co (IPIC) may raise its stake in plastics maker Borealis, the chief executive of Borealis said on Tuesday.
"There is always a possibility of that. They [IPIC] could raise the stake," Mark Garrett told reporters in Abu Dhabi.
He added that IPIC could buy shares through an initial public offering (IPO) through which joint owner, Austria's OMV, said three weeks ago that it planned to sell shares it owns in Borealis.
IPIC officials were not available for comment. Borealis is owned 64 percent by IPIC and 36 percent by OMV.
Borealis is also looking at acquisitions in the fertilisers and polyolefins sector in Europe, Asia and the Middle East, Garrett said.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.