IPIC to Acquire Blocking Minority Threshold

Business › n.a. ♦ Published: December 6, 2011; 17:51 ♦ (Vindobona)

The core shareholder of the Austrian oil and gas company, the Abu Dhabi state fund IPIC, already owns a 24.9% stake. An increase beyond 25% has been announced.

IPIC to Acquire Blocking Minority Threshold / Picture: © Wikimedia Commons / Waerfelu [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]

International Petroleum Investment Company (IPIC) today disclosed to increase the stake in OMV. According to the Federal Competition Authority, IPIC raises the threshold beyond 25.0%, which allows the Abu Dhabi state fund to act as blocking minority.

Already in October 2011, IPIC raised the participation in OMV from 20.4% up to 24.9%. The other core shareholder is the Austrian…

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