10.04.2019 • NewsCarlyleCepsaElaine Burridge

Carlyle Takes Minority Stake in Cepsa

Carlyle Takes Minority Stake in Cepsa (c) Mubadala
Carlyle Takes Minority Stake in Cepsa (c) Mubadala

Funds associated with US investment group Carlyle have agreed to take a "significant" minority interest in Spanish oil & gas and chemicals company Cepsa from Abu Dhabi-based Mubadala Investment Company.

Carlyle will take a share ranging between 30% and 40%, with Mubadala remaining Cepsa’s majority shareholder. Mubadala said final stakes will be confirmed once the transaction closes, which is expected by the end of 2019, subject to the usual regulatory approvals. The companies did not disclose financial terms.

Mubadala said the agreement marks the successful conclusion of a dual-track process through a public offering and private placement to bring in new partners as part of its portfolio management strategy.

Marcel Van Poecke, head of Carlyle International Energy Partners, said Cepsa offers strong potential and future opportunities in the global energy sector.

Cepsa is also the global leader in the production of linear alkyl benzene (LAB), as well as the world's second largest producer of phenol and acetone. The Madrid-headquartered group is currently developing a 150,000 t/y LAB plant at Abu Dhabi National Oil Company's (ADNOC) complex in Ruwais, UAE, as well as upgrading its own plant in San Roque, Cadiz, Spain. The latter project, which will expand capacity by 50,000 t/y, is due online in the first half of 2020.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.