Mubadala Is in Talks With Potential Bidders for Cepsa - Bloomberg

Mubadala Is in Talks With Potential Bidders for Cepsa - Bloomberg:

Mubadala Investment Co. is holding talks with potential bidders for its Spanish oil company Cepsa Trading SA as it weighs alternatives to an initial public offering planned for later this year, according to people familiar with the matter.

Investment firms including CVC Capital Partners and Blackstone Group LP as well as industry players may be interested in part or all of the company, which could be valued at about 10 billion euros ($11.7 billion) in either an IPO or a sale, the people said, asking not to be identified because the discussions are private.

No final decisions have been made as Mubadala continues to prepare for the listing, the people said. Discussions are at an early stage, they said. A spokesman for Mubadala referred to a statement that Musabbeh Al Kaabi, the head of the firm’s petroleum and petrochemicals platform, made in a March interview with English-language U.A.E. newspaper, the National. In it, Al Kabbi said they’re exploring options for Cepsa including a listing in Spain or bringing in a strategic partner. The spokesman declined to comment further.