Abu Dhabi’s IPIC Fund Raises OMV Stake by $436 Million to 24.9% - Businessweek

International Petroleum Investment Co., Abu Dhabi’s wealth fund, invested about 327 million euros ($436 million) to raise its stake in Austrian energy group OMV AG to 24.9 percent.

IPIC, which owns its OMV shares in a syndicate with the Austrian government, increased the stake by 4.5 percentage points, Vienna-based OMV said in a statement.

IPIC’s increased stake doesn’t change the syndicate deal, state assets agency OeIAG said in a statement. The agency owns 31.5 percent of OMV, according to data compiled by Bloomberg.

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