Monday, Nov 28, 2011
FRANKFURT (Dow Jones)--German capital investment and shipping company MPC Muenchmeyer Petersen & Co. GmbH (MPC.XE) will acquire 100% of industrial services firm Ferrostaal AG for about EUR160 million, after its former owner MAN SE (MAN.XE) buys back International Petroleum Investment Co.'s 70% stake and sells it to MPC Group, MAN SE said Monday.
MAN SE will pay EUR350 million to repurchase the 70% stake held by Abu Dhabi's IPIC, which the Arab sovereign wealth fund bought at the start of 2009.
Ferrostaal will help expand MPC's industrial services division, the company said.
Both transactions are subject to clearance by relevant antitrust authorities.
-Neetha Mahadevan, Dow Jones Newswires; 49-69-29725-500; neetha.mahadevan@dowjones.com
(END) Dow Jones Newswires
28-11-11 0719GMT
