UAE-owned Spanish energy company Cepsa ready to launch listing in September- sources | ZAWYA MENA Edition:
The Abu Dhabi owner of Spanish energy company Cepsa is expected to opt for an IPO instead of a private stake sale and plans to launch the listing as early as September, according to four banking sources familiar with the deal.
While parallel negotiations for a potential sale are ongoing, sources said a Madrid listing was the more likely option.
Two of the sources said the business would be valued at around 10 billion euros ($11.44 billion). Once companies announce an intention to float the listing usually takes place a few weeks later.
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