Continental Focus, International Reach

Mubadala Selling Stake in Cepsa to The Carlyle Group

Wednesday, April 10, 2019

Mubadala Investment Co. is selling a 30-40% stake in Cepsa The Carlyle Group. Mubadala is the sole shareholder in Cepsa. The Carlyle Group could pay an estimated $4.8 billion for the stake in the Spanish firm.

The sale comes six months after Mubadala nixed plans to list Cepsa.

In a statement, the companies said the deal is “based on an enterprise value of $12 billion.”

Cepsa has interests in 175,000 boepd of oil and gas production in Algeria, Peru, Colombia, Abu Dhabi, Thailand, and Malaysia; operates three refineries in Spain; and produces chemicals in Spain, Canada, Brazil, Indonesia, Germany, and China.

Mubadala will remain majority shareholder.