Dubai Oil Refiner Said to Have Held Talks on Retail Unit IPO - Bloomberg

Dubai Oil Refiner Said to Have Held Talks on Retail Unit IPO - Bloomberg:

"Emirates National Oil Co., the government-owned refiner in Dubai, has held discussions with advisers for a potential initial public offering of its fuel-retailing unit, according to people familiar with the matter.

The retail arm of ENOC, as the company is known, could be valued at more than $7 billion in the event of a listing, the people said, asking not to be identified as the matter is private. ENOC held talks with banks as recently as December, the people said. No final decision has been made and the company may decide not to pursue an IPO, the people said.

ENOC “is not planning for any IPO currently,” a representative for the company said in an emailed statement. “The group’s financial performance has been resilient throughout the downturn in the oil and gas industry, which is reflected in our ability to secure various sources of funding.”"



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