Middle East Economic Survey
OOC Acquires 30% Stake In LG Energy
State-owned Oman Oil Company (OOC) on 7 November acquired a 30% equity stake in South Koreas LG Energy, a subsidiary of LG International. It bought a 15.1% stake from LG International and a 14.9% share from LG Cable. After the transaction, LG Internationals holding in LG energy fell to 54.9% while LG Cable had no remaining stake in the power producer. LG Energy was incorporated in 1996 to own and...