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UAE: The International Petroleum Investment Company (IPIC) yesterday said the National Bank of Abu Dhabi (NBAD) and the Bank of Tokyo-Mitsubishi have concluded a dhs2.3 billion syndicated term loan facility to finance the acquisition of a 20 per cent stake in Japanese refinery and sales conglomerate Cosmo Oil. IPIC is looking to promote its energy business in the Asia-Pacific region and the US West Coast.
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