Network of international brands with GCC stakeholders
Twists and turns of the global economic landscape has seen Middle Eastern companies gaining more stake in international brands. And we’ve got a feeling it’s the tip of the iceberg.
January 11, 2012 4:44 by p.deleon
Abu Dhabi’s International Petroleum Investment Company (IPIC) is close to raising its stake in Austria’s raised its stake in Vienna-based oil and gas group OMV to up to 25 percent from its current 20 percent. The recent approval by Austria’s competition watchdog this January covers potential cartel concerns. Under Austrian law, IPIC as a non-European investor would still need government approval to increase its OMV stake above 25 percent, according to a Reuters report.