Middle East Economic Survey
IPIC, OMV Complete Purchase Of Statoils 50% Stake In Borealis
Abu Dhabis International Petroleum Investment Co (IPIC) and Austrias OMV on 13 October finalized the purchase from Statoil of the 50% share in Borealis for 980mn that was announced in June, giving the two companies 100% ownership over Europes second-largest plastics manufacturer (MEES, 11 July). OMV now has a 35% stake and IPIC holds 65%. Borealis processes around 85% of...