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...