Abu Dhabi – Mubasher: Abu Dhabi’s Mubadala Investment Company is set to launch an initial public offering (IPO) for Cia Espanola de Petroleos SAU, which is expected to be the largest offering of oil producer in a decade.
Mubadala is planning to offer 25% of its fully-owned company to be listed on Spanish stock exchanges, informed sources told Bloomberg.
Cepsa could raise about EUR 3 billion ($3.5 billion), the sources added.
“That would value the whole company at as much as EUR 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 EUR 7.5 billion,” the international media corporation said.
Citigroup, Bank of America Merrill Lynch, Banco Santander SA, and Morgan Stanley were named joint global coordinators and bookrunners for the deal, while Barclays Plc, BNP Paribas SA, First Abu Dhabi Bank (FAB), Societe Generale SA, and UBS Group AG were hired as additional bookrunners.
