Middle East Economic Survey


No 46



IPIC Boosts Holding In Cepsa To 25%

Abu Dhabi-based International Petroleum Investments Co (IPIC) is to increase its stake in Spains Cepsa from 9.5% to 25%, according to media reports on 4 November. IPICs plan to increase its holding in Cepsa had been put on hold pending the finalization of a double taxation treaty between the UAE and Spain. The Cepsa move is the latest in IPICs increasing presence across Europe, where it also has...