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The Austria-based oil and gas company OMV has announced that International Petroleum Investment Company (IPIC), the Abu Dhabi sovereign wealth fund, has increased its stake in the company from 19.6% to 20%.
In a statement OMV said that the change was effective from December 30 and means that IPIC now hold over 60 million shares in the Vienna-based outfit.
The statement added that the Austrian state-owned ÖIAG and IPIC now own 51.5% of the registered capital of OMV equating to 51.7% of the voting rights.
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