28 Nov 2011
(MENAFN) Germany’s MAN said that the company along with Abu Dhabi’s International Petroleum Investment Company (IPIC) consented to sell Ferrostaal, the two firms’ jointly held unit, to MPC, a German investor, reported Arabian Business.
The firm added that it would buy back the Ferrostaal shares from IPIC with USD464.4 million, after which, MPC would acquire the unit from MAN for USD211.8 million.
It also said that the acquisition would be performed via MPC Industries, in which an investor from the Gulf had a minority stake.
It is worth noting that back in 2009, MAN sold 70 percent of Ferrostaal to IPIC, however, when MAN tried to sell the other 30 percent to the company via a put option in early 2010, IPIC rejected a deal as a result of a bribery investigation and later asked to cancel the original purchase deal.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more