VOL. XL
No. 43
27-October-1997
UAE
Abu Dhabi's IPIC Sells One Quarter Of Its Stake In Parco To OMV
Abu Dhabi's International Petroleum Investment Company (IPIC) has agreed to sellAustria's OMV 25% of its share in the Pak-Arab Refinery Company (Parco), a joint ventureowned 40% by IPIC and 60% by the Pakistani Government. IPIC's equity interest in Parcowill therefore fall to 30% of the total, with OMV holding 10% and the PakistaniGovernment's share unchanged at 60%. Parco currently owns and...
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