Abu Dhabi – Mubasher: Mubadala Investment is set to appoint British Rothschild & Co. to assist in a deal to sell a stake in Spain’s Cepsa Trading SA, an EUR 10 billion (AED 45.26 billion) oil company wholly-owned by the UAE-based corporation.
Mubadala is in talks with more banks to help in a sale or an initial public offering (IPO) of Cepsa, informed sources told Bloomberg News, noting that the listing of the Spanish company’s shares on Madrid Stock Exchange would be likely.
“Mubadala is working with Cepsa’s management to assess a range of strategic options including a listing, strategic partnerships, and the involvement of other investors, but no final decision has been taken yet,” Bloomberg reported citing a company spokesperson.
Both Cepsa and Rothschild declined to give a comment regarding the matter
In March, Abu Dhabi announced the merger of Abu Dhabi Investment Council and Mubadala Investment Company to create a wealth fund with total assets of around $250 billion (AED 918.27 billion).
A Brazilian newspaper last reported that Mubadala Development Fund was set to complete a $1.2 billion (AED 4.41 billion) deal to acquire Brazil’s Queiroz Galvao Energia SA.
