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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Abu Dhabi fund buys Spain’s Cepsa

Posted on 17 February 2011

From Bloomberg: An Abu Dhabi holding company agreed to take control of Cia. Espanola de Petroleos SA, Spain’s second-largest oil company, through a 3.97 billion-euro ($5.37 billion) offer that will buy out Cepsa shareholder Total SA.
International Petroleum Investment Co., owned by the Abu Dhabi state, agreed to buy the French oil company’s 48.8 percent stake and bid for the remaining Cepsa stock at 28 euros a share in cash, a 23 percent premium to yesterday’s closing price in Madrid, IPIC said in a regulatory filing today……………………………………….Full Article: Source

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