Middle East Economic Survey


No 8



IPIC Plans To Take Over Cepsas Entire Share Capital

Abu Dhabis International Petroleum Investment Company (IPIC), which currently owns 47.06% of the share capital of Compañía Española de Petróleos (Cepsa), announced the launch on 16 February of a public bid to take over the remaining share capital of the Spanish company, which is mainly held by Frances Total. The total deal would be valued at approximately 3.97bn if the offer were to...