93808
Abu Dhabi Planning Biggest Oil  IPO in Decade
Abu Dhabi Planning Biggest Oil  IPO in Decade

Abu Dhabi Planning Biggest Oil IPO in Decade

Abu Dhabi Planning Biggest Oil IPO in Decade

Abu Dhabi is pushing ahead with an initial public offering for Spanish oil company Cia Espanola de Petroleos SAU, in what could be the largest such deal in a decade. The emirate’s Mubadala Investment Company will offer a stake of at least 25% in Cepsa in the fourth quarter, the state-owned investor said on Monday in a statement. The Madrid-based refiner will list on Spanish exchanges, Reuters reported. Mubadala is proceeding with an IPO rather than a sale after potential bidders were narrowed down to private-equity firm Carlyle Group LP, people familiar with the matter said previously. Cepsa could raise about €3 billion ($3.5 billion), people said, making it the biggest oil IPO in about 10 years, according to data compiled by Bloomberg. That would value the whole company at as much as €10 billion, handing Abu Dhabi significant paper gains because its funds took full control of the firm in 2011 in a deal valuing it at about €7.5 billion.

 

Short URL : https://goo.gl/p9KAjb
  1. https://goo.gl/qXkVoJ
  • https://goo.gl/Muk94d
  • https://goo.gl/Ji1Kan
  • https://goo.gl/rqF5Dc
  • https://goo.gl/JSvGJ8

You can also read ...

India Co. Says ‘Important’ to  Buy Some Iranian Oil
Mangalore Refinery and Petrochemicals, a subsidiary of India’s...
NIOC Chief: US Talk to Zero Iran Oil Export Is Hot Air
Rhetoric from the United States that it wants to reduce Iran’s...
Iran's Marjan Petrochem Company Exports 1st Methanol Cargo
The first 20,000 ton methanol consignment produced by Marjan...
Crude Prices Rise
Oil prices rose for a fourth day on Wednesday after industry...
NOPEC Threat Prompts Change at OPEC
OPEC has urged its members not to mention oil prices when...
Russian Expert: Collaboration With Oil Majors Could  Help Iran Enhance Energy Output
Iran has proved that it has great potential for investment...
Foreign Firms to Invest in Mazandaran DGs Power Projects
Foreign companies have signed contracts to invest in small...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus