Abu Dhabi's Mubadala to sell 25 pct of Spain's Cepsa in IPO | Reuters

Abu Dhabi's Mubadala to sell 25 pct of Spain's Cepsa in IPO | Reuters:

Abu Dhabi state investor Mubadala said on Monday it plans to sell a 25 percent stake in Spanish energy company Cepsa in an initial public offer on the Spanish stock exchange in the fourth quarter of 2018.

The listing will provide Cepsa with wider access to capital markets and increase its financial flexibility, Mubadala said in a statement.

Morgan Stanley, Bank of America Merrill Lynch, Citigroup and Santander are joint global coordinators for the deal, according to a term sheet seen by Reuters.