IPIC Increases OMV Stake

More and more sovereign investors are seeing value investing directly into European companies.  Abu Dhabi’s International Petroleum Investment Company (IPIC) increased its stake in OMV Aktiengesellschaft from 20.4% to 24.9%. IPIC now holds 81,490,900 shares. The IPIC is an active investor in energy companies and a long-term investor in OMV. In fact, IPIC has invested in OMV for around 17 years.

This increased position occurred around two weeks after OMV stated they would get rid of unprofitable refining and marketing assets by 2014.

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