Musabbeh Al Kaabi, chief executive officer of petroleum and petrochemicals at Mubadala Investment Company, recently told Bloomberg Television that the Abu Dhabi investment firm will consider an IPO for its fully-owned Spanish oil firm Cepsa “when the time is right”.
Speaking to Bloomberg Television at the Bloomberg Invest Abu Dhabi opening dinner, Kaabi spoke about the recent stake stale in Cepsa to Carlyle.
“We are fully satisfied with the agreement and the value we agreed on. The $12 billion enterprise value demonstrates clearly that the business is very strong,” he said.
He also said that the Carlyle team and Mubadala team are driven by 1 principal – value creation.