FILE PHOTO: The logo of the Carlyle Group is displayed at the company's office in Tokyo, Japan October 17, 2018. REUTERS/Issei Kato/File Photo
- Private equity firm Carlyle Group LP has agreed to buy a 30 percent stake in Spanish oil and gas company Cepsa from an Abu Dhabi sovereign wealth fund in a $3.6 billion deal including debt, the Financial Times reported on Sunday, citing people with knowledge of the transaction. The sale gives the business a total enterprise value of $12 billion, roughly the same price tag that Cepsa’s owner Abu Dhabi wealth fund Mubadala Investment Company sought ahead of a failed attempt at a stock market listing last year, the FT said.
Carlyle will have at least two board seats, and Musabbeh Al Kaabi, a senior executive at Mubadala, will remain as chairman, the newspaper said, citing sources. As part of the agreement, Carlyle reserves the right to buy up to 40 percent of Cepsa, which is one of the largest privately-owned oil companies in Europe and has been under Mubadala ownership for the last three decades, the FT said.Reporting by Rama Venkat in Bengaluru
Nice to see this timely announcement literally 5 minutes after iamjohnoliver showed what full on pricks these people are
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