ID :
45228
Thu, 02/12/2009 - 13:35
Auther :
Shortlink :
https://www.oananews.org//node/45228
The shortlink copeid
IPIC denies acquiring stakes in Schaeffler or Continental
Abu Dhabi, February 12, 2009 (WAM) - The International Petroleum Investment Company (IPIC) has denied speculations that it is interested in acquiring stakes in the German based automotive supplier, Schaeffler, or its subsidiary Continental.
"This speculation (of IPIC investing in Schaeffer/Continental) has surfaced recently in the German media; we are quite surprised that this has arisen at all. There has been no contact between IPIC and either Schaeffler or Continental, nor does IPIC intend to open a dialogue with either company, so there is no truth whatsoever to this rumour," IPIC Managing Director, Khadem Al Qubaisi, said in a press statement today in response to the speculation.
"This speculation (of IPIC investing in Schaeffer/Continental) has surfaced recently in the German media; we are quite surprised that this has arisen at all. There has been no contact between IPIC and either Schaeffler or Continental, nor does IPIC intend to open a dialogue with either company, so there is no truth whatsoever to this rumour," IPIC Managing Director, Khadem Al Qubaisi, said in a press statement today in response to the speculation.
