December 11, 2014 / 12:11 PM / 5 years ago

Abu Dhabi's IPIC happy with OMV stake, in for long term -finance chief

VIENNA, Dec 11 (Reuters) - Abu Dhabi’s IPIC sovereign wealth fund is happy with its nearly 25 percent stake in Austrian energy group OMV and will remain an investor for the long haul, IPIC finance chief Murtadha al-Hashmi told Austria’s ORF radio.

“OMV is in good shape so we are quite happy with the strategy,” he said in an interview broadcast on Thursday, adding “a certain restructuring is required” within the company but this was under way.

He dismissed speculation that IPIC could divest its stake. “IPIC’s current intention is to remain a long-term shareholder in OMV,” he said, declining to comment on a management shake-up that will see OMV’s chief executive depart early.

“We are a family. We keep some certain stuff within the family,” he said. (Reporting by Michael Shields; Editing by Pravin Char)

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