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Gazprom eyeing IPIC’s stake in OMV

: Sunday, June 29 - 2014 @ 01:57

Russia’s Gazprom is in talks to buy a 24.9% stake in Austrian oil and gas firm OMV from Abu Dhabi’s International Petroleum Investment Co (IPIC), Reuters has reported, citing a source familiar with the talks. IPIC holds 32% of OMV in a shareholder pact with Austrian state holding company OIAG, which coordinates any shareholding changes. OIAG said it had seen no sign IPIC wanted to exit. “It’s news to me,” Siegfried Wolf, an Austrian businessman with close ties to Russia who was elected OIAG chairman on Thursday, told a news conference. Wolf, however, said OIAG, which has right of first refusal to buy the stake from IPIC, would not necessarily know about any such talks until the point at which IPIC was ready to sell.

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Sunday, June 29- 2014 @ 1:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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