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IPIC Sells its Majority Stake in Ferrostaal Following Dispute

9:27 AM MST | November 29, 2011 | Natasha Alperowicz

International Petroleum Investment Co. (IPIC; Abu Dhabi) has sold its 70% stake in German engineering group Ferrostaal (Essen) to MAN SE (Munich), a subsidiary of Volkswagen (VW), for €350 million ($465 million). MAN will sell Ferrostaal to trading firm...

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