VOL. XXXVII

NO. 34

23-MAY-1994

UAE

Abu Dhabi's IPIC To Acquire 20% Of Austria's OMV

Abu Dhabi's International Petroleum Investment Company (IPIC) is to acquire a19.6% stake in the state controlled Austrian energy and chemicals group OMV,following a unanimous decision on 18 May by the supervisory board of OMV'sparent company - Oesterreichische Industrieholding (OIAG) - to approve IPIC'soffer. However, the purchase agreement includes a put option whereby IPIC hasthe right to resell its stake to...