No. 31



EU Approves OMV-IPIC Purchase Of Borealis

The European Union (EU) has approved the purchase by Austrias OMVand the International Petroleum Investment Company (IPIC) of Abu Dhabi of a 50% stake inBorealis from the Finnish firm Neste Oy. In the deal, announced last September, OMV andIPIC agreed to take over in equal shares Neste Oys 50% share in Borealis at a costof $750mn. The other 50% is held by Norways Statoil. Upon completion of thetakeover, Borealis will be...